Nicolet Advisory Services LLC Sells 617 Shares of Prologis, Inc. (NYSE:PLD)

Nicolet Advisory Services LLC decreased its position in Prologis, Inc. (NYSE:PLD) by 13.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,843 shares of the real estate investment trust’s stock after selling 617 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Prologis were worth $398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Prologis in the fourth quarter valued at approximately $951,263,000. Raymond James Financial Inc. bought a new position in Prologis in the 4th quarter valued at $254,876,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Prologis by 83.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust’s stock valued at $399,528,000 after purchasing an additional 1,723,129 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Prologis by 59.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust’s stock worth $272,642,000 after purchasing an additional 964,454 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after buying an additional 829,504 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis Trading Down 9.7 %

Prologis stock opened at $101.43 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The stock has a market cap of $94.02 billion, a P/E ratio of 25.36, a PEG ratio of 2.70 and a beta of 1.20. The firm’s fifty day moving average price is $117.27 and its 200-day moving average price is $115.85.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Truist Financial upped their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Robert W. Baird lifted their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $128.78.

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.