Prologis, Inc. (NYSE:PLD) Shares Sold by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC decreased its stake in Prologis, Inc. (NYSE:PLD) by 16.7% in the 4th quarter, Holdings Channel reports. The firm owned 125,000 shares of the real estate investment trust’s stock after selling 25,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Prologis were worth $13,212,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Callan Family Office LLC acquired a new stake in shares of Prologis during the 4th quarter valued at approximately $429,000. Welch & Forbes LLC raised its holdings in Prologis by 7.7% during the fourth quarter. Welch & Forbes LLC now owns 4,555 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 325 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in Prologis during the fourth quarter worth $242,000. Candriam S.C.A. grew its holdings in Prologis by 15.6% in the fourth quarter. Candriam S.C.A. now owns 114,596 shares of the real estate investment trust’s stock valued at $12,113,000 after purchasing an additional 15,449 shares during the last quarter. Finally, Carmel Capital Partners LLC increased its position in shares of Prologis by 6.0% in the fourth quarter. Carmel Capital Partners LLC now owns 3,973 shares of the real estate investment trust’s stock valued at $420,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial increased their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. UBS Group lifted their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Wolfe Research cut their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Mizuho decreased their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

PLD stock opened at $120.27 on Friday. The stock has a 50-day moving average price of $115.66 and a two-hundred day moving average price of $118.05. The company has a market cap of $111.47 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a positive change 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 yield of 3.36%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

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.