Prologis, Inc. (NYSE:PLD) Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC reduced its position in Prologis, Inc. (NYSE:PLD) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,836 shares of the real estate investment trust’s stock after selling 290 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Prologis were worth $1,674,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. ASB Consultores LLC raised its holdings in shares of Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 86 shares during the period. Principle Wealth Partners LLC grew its position in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after acquiring an additional 92 shares in the last quarter. Black Diamond Financial LLC lifted its position in shares of Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 93 shares in the last quarter. Carmel Capital Partners LLC boosted its stake in shares of Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares during the period. Finally, Berkshire Bank grew its holdings in 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 purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PLD. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Royal Bank of Canada boosted their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Truist Financial increased their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of NYSE PLD opened at $122.69 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm has a market cap of $113.72 billion, a P/E ratio of 30.67, a PEG ratio of 2.70 and a beta of 1.10. The stock has a fifty day moving average price of $113.07 and a two-hundred day moving average price of $117.99. Prologis, Inc. has a 1 year low of $100.82 and a 1 year 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 issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.29%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.56% of the company’s stock.

Prologis 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.