D.A. Davidson & CO. Sells 1,852 Shares of Prologis, Inc. (NYSE:PLD)

D.A. Davidson & CO. lessened its holdings in Prologis, Inc. (NYSE:PLD) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,988 shares of the real estate investment trust’s stock after selling 1,852 shares during the period. D.A. Davidson & CO.’s holdings in Prologis were worth $9,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Dunhill Financial LLC raised its stake in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the period. Hara Capital LLC bought a new stake in Prologis in the 3rd quarter valued at $48,000. Coastline Trust Co bought a new stake in Prologis in the 3rd quarter valued at $52,000. Fortitude Family Office LLC raised its stake in Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 240 shares during the period. Finally, Asset Planning Inc bought a new stake in Prologis in the 4th quarter valued at $53,000. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated 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 directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $121.21 on Wednesday. The business’s 50-day moving average price is $111.82 and its 200-day moving average price is $117.99. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The firm has a market capitalization of $112.26 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.10. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLD. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Robert W. Baird increased their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.78.

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.