Corient Private Wealth LLC Reduces Position in Prologis, Inc. (NYSE:PLD)

Corient Private Wealth LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 322,117 shares of the real estate investment trust’s stock after selling 17,621 shares during the quarter. Corient Private Wealth LLC’s holdings in Prologis were worth $33,818,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PLD. Centricity Wealth Management LLC bought a new position in Prologis in the 4th quarter worth approximately $30,000. Dunhill Financial LLC lifted its position in shares of Prologis by 239.5% during 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 in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Prologis in the fourth quarter worth $34,000. Promus Capital LLC purchased a new position in shares of Prologis in the fourth quarter valued at $34,000. Finally, Asset Planning Inc purchased a new position in shares of Prologis in the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 2.4 %

Shares of PLD opened at $114.54 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm has a 50 day moving average price of $117.05 and a 200-day moving average price of $117.38. The firm has a market cap of $106.16 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently declared 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. This represents a $4.04 annualized dividend and a yield of 3.53%. 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. Prologis’s dividend payout ratio is presently 101.00%.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLD. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. BTIG Research lowered their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. UBS Group raised their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Wolfe Research decreased their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Truist Financial lifted their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.