Private Trust Co. NA Raises Holdings in Prologis, Inc. (NYSE:PLD)

Private Trust Co. NA grew its position in shares of Prologis, Inc. (NYSE:PLD) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,186 shares of the real estate investment trust’s stock after purchasing an additional 391 shares during the period. Private Trust Co. NA’s holdings in Prologis were worth $442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dunhill Financial LLC lifted its stake in 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 purchasing an additional 182 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Prologis in the fourth quarter worth approximately $30,000. Whipplewood Advisors LLC bought a new position in Prologis in the fourth quarter worth approximately $34,000. Hara Capital LLC purchased a new position in Prologis in the third quarter worth $48,000. Finally, Coastline Trust Co purchased a new position in Prologis in the third quarter worth $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of PLD stock opened at $123.88 on Monday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The firm’s 50 day moving average price is $114.28 and its 200-day moving average price is $118.01. The firm has a market cap of $114.82 billion, a P/E ratio of 30.97, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. 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 3.26%. Prologis’s dividend payout ratio is currently 101.00%.

Insider Buying and Selling 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.

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.