Orion Portfolio Solutions LLC Sells 3,944 Shares of Prologis, Inc. (NYSE:PLD)

Orion Portfolio Solutions LLC lessened its position in Prologis, Inc. (NYSE:PLD) by 4.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 82,531 shares of the real estate investment trust’s stock after selling 3,944 shares during the period. Orion Portfolio Solutions LLC’s holdings in Prologis were worth $8,724,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PLD. Pictet Asset Management Holding SA lifted its stake in Prologis by 7.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,526,498 shares of the real estate investment trust’s stock worth $161,351,000 after purchasing an additional 102,038 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Prologis by 4.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,491,714 shares of the real estate investment trust’s stock worth $157,674,000 after acquiring an additional 58,130 shares during the last quarter. New Age Alpha Advisors LLC boosted its holdings in Prologis by 853.5% during the 4th quarter. New Age Alpha Advisors LLC now owns 192,612 shares of the real estate investment trust’s stock valued at $20,359,000 after acquiring an additional 172,412 shares during the period. Providence Capital Advisors LLC grew its position in Prologis by 0.7% in the 4th quarter. Providence Capital Advisors LLC now owns 67,159 shares of the real estate investment trust’s stock valued at $7,099,000 after acquiring an additional 454 shares during the last quarter. Finally, Easterly Investment Partners LLC increased its stake in Prologis by 632.4% in the fourth quarter. Easterly Investment Partners LLC now owns 135,104 shares of the real estate investment trust’s stock worth $14,280,000 after purchasing an additional 116,656 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLD. BTIG Research lowered their target price 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. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $128.78.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $110.37 on Friday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The firm’s fifty day simple moving average is $117.74 and its two-hundred day simple moving average is $116.45. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $102.29 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.70 and a beta of 1.09.

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 paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.66%. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.