Venturi Wealth Management LLC Sells 1,211 Shares of Prologis, Inc. (NYSE:PLD)

Venturi Wealth Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLD) by 12.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,762 shares of the real estate investment trust’s stock after selling 1,211 shares during the quarter. Venturi Wealth Management LLC’s holdings in Prologis were worth $926,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its position in Prologis by 12.7% during the fourth quarter. CIBC Asset Management Inc now owns 211,805 shares of the real estate investment trust’s stock worth $22,388,000 after acquiring an additional 23,813 shares during the period. Rational Advisors LLC grew its position in Prologis by 2,063.0% in the 4th quarter. Rational Advisors LLC now owns 5,494 shares of the real estate investment trust’s stock worth $581,000 after purchasing an additional 5,240 shares during the last quarter. Secured Retirement Advisors LLC increased its holdings in shares of Prologis by 24.6% during the 4th quarter. Secured Retirement Advisors LLC now owns 11,857 shares of the real estate investment trust’s stock worth $1,253,000 after purchasing an additional 2,343 shares during the period. Principal Securities Inc. lifted its position in shares of Prologis by 3.8% in the 4th quarter. Principal Securities Inc. now owns 22,067 shares of the real estate investment trust’s stock worth $2,332,000 after acquiring an additional 808 shares during the period. Finally, Montag A & Associates Inc. increased its position in shares of Prologis by 109.0% during the fourth quarter. Montag A & Associates Inc. now owns 767 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 400 shares during the period. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on PLD shares. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Mizuho decreased their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Scotiabank decreased their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

NYSE:PLD opened at $121.21 on Wednesday. The company has a market cap of $112.26 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The stock has a fifty day moving average price of $111.98 and a 200-day moving average price of $117.97.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.