Pinnacle Wealth Management Advisory Group LLC Sells 384 Shares of Prologis, Inc. (NYSE:PLD)

Pinnacle Wealth Management Advisory Group LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 11.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,052 shares of the real estate investment trust’s stock after selling 384 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Prologis were worth $323,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PLD. Dunhill Financial LLC boosted its holdings in shares of 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 acquiring an additional 182 shares during the period. Hara Capital LLC purchased a new stake in shares of Prologis in the 3rd quarter valued at $48,000. Coastline Trust Co purchased a new stake in Prologis during the 3rd quarter valued at about $52,000. Asset Planning Inc purchased a new position in shares of Prologis in the fourth quarter worth $53,000. Finally, Fortitude Family Office LLC raised its position in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.0 %

Shares of NYSE PLD opened at $120.84 on Monday. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $111.92 billion, a PE ratio of 30.21, a PEG ratio of 2.64 and a beta of 1.10. The stock has a fifty day simple moving average of $111.71 and a 200-day simple moving average of $118.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.18%. Prologis’s dividend payout ratio (DPR) is 96.00%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Truist Financial lifted their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, BTIG Research lowered their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.