Avantax Advisory Services Inc. Sells 9,995 Shares of Prologis, Inc. (NYSE:PLD)

Avantax Advisory Services Inc. trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 18.3% in the 4th quarter, HoldingsChannel reports. The firm owned 44,591 shares of the real estate investment trust’s stock after selling 9,995 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Prologis were worth $4,713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. Harbour Investments Inc. boosted its stake in Prologis by 13.2% in the 3rd quarter. Harbour Investments Inc. now owns 3,114 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 364 shares during the period. ING Groep NV boosted its stake in Prologis by 1.1% in the 3rd quarter. ING Groep NV now owns 125,047 shares of the real estate investment trust’s stock worth $15,791,000 after purchasing an additional 1,378 shares during the period. Balboa Wealth Partners bought a new position in Prologis in the 3rd quarter worth approximately $262,000. CIBC Asset Management Inc boosted its stake in Prologis by 11.3% in the 3rd quarter. CIBC Asset Management Inc now owns 187,992 shares of the real estate investment trust’s stock worth $23,740,000 after purchasing an additional 19,029 shares during the period. Finally, Signature Estate & Investment Advisors LLC boosted its stake in Prologis by 5.0% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 183,424 shares of the real estate investment trust’s stock worth $23,163,000 after purchasing an additional 8,766 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $111.98 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $116.89 and its two-hundred day simple moving average is $117.61. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The firm has a market cap of $103.79 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 2.70 and a beta of 1.09.

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 paid a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.61%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Analyst Ratings Changes

PLD has been the subject of several recent analyst reports. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Wolfe Research decreased their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. UBS Group upped their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

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.