Pasadena Private Wealth LLC Decreases Position in Prologis, Inc. (NYSE:PLD)

Pasadena Private Wealth LLC trimmed its position in Prologis, Inc. (NYSE:PLD) by 19.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,636 shares of the real estate investment trust’s stock after selling 645 shares during the period. Pasadena Private Wealth LLC’s holdings in Prologis were worth $279,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Dunhill Financial LLC boosted its stake in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. Hara Capital LLC acquired a new stake in Prologis during the 3rd quarter worth $48,000. Coastline Trust Co purchased a new stake in shares of Prologis during the third quarter worth $52,000. Asset Planning Inc acquired a new stake in shares of Prologis in the fourth quarter valued at about $53,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 240 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Trading Up 0.3 %

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.