Sand Hill Global Advisors LLC Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Sand Hill Global Advisors LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,291 shares of the real estate investment trust’s stock after selling 1,163 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Prologis were worth $4,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis during the 4th quarter worth $26,000. Crowley Wealth Management Inc. bought a new stake in Prologis during the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter worth about $30,000. Dunhill Financial LLC increased its position in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of Prologis during the 4th quarter valued at about $34,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. UBS Group lifted their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Truist Financial increased 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, BTIG Research lowered 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.78.

Prologis Trading Down 3.9 %

Shares of NYSE PLD opened at $94.42 on Tuesday. The firm’s 50 day moving average price is $116.32 and its 200-day moving average price is $115.22. Prologis, Inc. has a 52-week low of $91.67 and a 52-week high of $132.57. 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 company has a market cap of $87.52 billion, a PE ratio of 23.60, a P/E/G ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

Insider Buying and Selling

In other 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 transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

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.