Reaves W H & Co. Inc. Sells 327 Shares of Prologis, Inc. (NYSE:PLD)

Reaves W H & Co. Inc. reduced its stake in Prologis, Inc. (NYSE:PLD) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,756 shares of the real estate investment trust’s stock after selling 327 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Prologis were worth $820,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PLD. Focus Financial Network Inc. bought a new position in Prologis in the 3rd quarter worth $299,000. Gladstone Institutional Advisory LLC raised its holdings in Prologis by 3.7% during the third quarter. Gladstone Institutional Advisory LLC now owns 4,028 shares of the real estate investment trust’s stock valued at $509,000 after acquiring an additional 144 shares during the period. Farther Finance Advisors LLC raised its holdings in Prologis by 35.3% during the third quarter. Farther Finance Advisors LLC now owns 8,846 shares of the real estate investment trust’s stock valued at $1,117,000 after acquiring an additional 2,306 shares during the period. Optas LLC bought a new stake in Prologis during the third quarter valued at about $299,000. Finally, Janney Montgomery Scott LLC raised its holdings in Prologis by 4.4% during the third quarter. Janney Montgomery Scott LLC now owns 442,932 shares of the real estate investment trust’s stock valued at $55,934,000 after acquiring an additional 18,465 shares during the period. 93.50% of the stock is owned by institutional investors.

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 stock was 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 owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of a number of recent analyst reports. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Down 0.4 %

PLD opened at $123.48 on Tuesday. The firm has a market cap of $114.45 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. 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 stock has a 50-day moving average of $114.66 and a 200 day moving average of $118.00.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

Prologis Company 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.