Oppenheimer & Co. Inc. Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Oppenheimer & Co. Inc. trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 26.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,209 shares of the real estate investment trust’s stock after selling 16,510 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Prologis were worth $4,779,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. ASB Consultores LLC lifted its stake in Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 86 shares in the last quarter. Principle Wealth Partners LLC raised its position in shares of Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after buying an additional 92 shares during the period. Black Diamond Financial LLC raised its position in shares of Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after buying an additional 93 shares during the period. Carmel Capital Partners LLC raised its position in shares of Prologis by 2.6% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after buying an additional 94 shares during the period. Finally, Berkshire Bank raised its position in shares of Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after buying an additional 95 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

NYSE:PLD opened at $123.88 on Friday. The company has a fifty day simple moving average of $114.28 and a two-hundred day simple moving average of $118.08. The company has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.26%. Prologis’s payout ratio is 101.00%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BTIG Research reduced their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Barclays lifted their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Royal Bank of Canada lifted their price target on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, BNP Paribas raised 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 issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

About Prologis

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.