Prossimo Advisors LLC Reduces Stake in Prologis, Inc. (NYSE:PLD)

Prossimo Advisors LLC lowered its stake in Prologis, Inc. (NYSE:PLD) by 25.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,806 shares of the real estate investment trust’s stock after selling 1,329 shares during the quarter. Prossimo Advisors LLC’s holdings in Prologis were worth $402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PLD. AMF Tjanstepension AB grew its stake in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Creative Planning raised its position in shares of Prologis by 18.3% in the third quarter. Creative Planning now owns 100,154 shares of the real estate investment trust’s stock worth $12,647,000 after buying an additional 15,510 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in Prologis during the third quarter valued at $234,000. Whittier Trust Co. of Nevada Inc. grew its position in Prologis by 34.2% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 22,345 shares of the real estate investment trust’s stock worth $2,822,000 after buying an additional 5,700 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in Prologis by 203.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 12,996 shares of the real estate investment trust’s stock worth $1,641,000 after acquiring an additional 8,708 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PLD has been the subject of a number of research analyst reports. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Truist Financial raised their price objective 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. BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have given 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.com, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

Shares of Prologis stock opened at $121.21 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The business’s 50 day simple moving average is $111.98 and its two-hundred day simple moving average is $117.97. The stock has a market capitalization of $112.26 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10.

Prologis Dividend Announcement

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

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.