Whittier Trust Co. of Nevada Inc. Has $2.11 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Whittier Trust Co. of Nevada Inc. reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 10.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,962 shares of the real estate investment trust’s stock after selling 2,383 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Prologis were worth $2,110,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dunhill Financial LLC increased its holdings in Prologis by 239.5% during the 3rd 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 in the last quarter. Centricity Wealth Management LLC bought a new stake in Prologis during the 4th quarter worth approximately $30,000. Promus Capital LLC bought a new stake in Prologis during the 4th quarter worth approximately $34,000. Whipplewood Advisors LLC bought a new stake in Prologis during the 4th quarter worth approximately $34,000. Finally, Asset Planning Inc bought a new stake in Prologis during the 4th quarter worth approximately $53,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLD has been the subject of a number of recent research reports. Mizuho decreased their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. UBS Group upped their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Robert W. Baird upped their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $128.78.

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 transaction of $1,305,783.78. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $108.27 on Friday. The stock has a fifty day simple moving average of $117.54 and a two-hundred day simple moving average of $116.99. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The firm has a market cap of $100.35 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The business 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. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.73%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 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.