Atria Investments Inc Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Atria Investments Inc lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 23.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,170 shares of the real estate investment trust’s stock after selling 24,532 shares during the quarter. Atria Investments Inc’s holdings in Prologis were worth $8,474,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PLD. Catalyst Capital Advisors LLC purchased a new position in Prologis during the 3rd quarter valued at $255,000. Beacon Financial Advisory LLC lifted its holdings in shares of Prologis by 21.0% in the 3rd quarter. Beacon Financial Advisory LLC now owns 3,133 shares of the real estate investment trust’s stock worth $396,000 after buying an additional 544 shares during the period. Avidian Wealth Enterprises LLC purchased a new stake in shares of Prologis in the 3rd quarter worth $240,000. Harvest Portfolios Group Inc. lifted its holdings in shares of Prologis by 94.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 8,345 shares of the real estate investment trust’s stock worth $1,054,000 after buying an additional 4,054 shares during the period. Finally, Umpqua Bank lifted its holdings in shares of Prologis by 3.7% in the 3rd quarter. Umpqua Bank now owns 5,015 shares of the real estate investment trust’s stock worth $633,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.9 %

Shares of NYSE:PLD opened at $124.08 on Thursday. The business’s 50-day moving average is $115.40 and its 200 day moving average is $118.03. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The firm has a market capitalization of $115.00 billion, a P/E ratio of 31.02, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.26%. Prologis’s dividend payout ratio is currently 101.00%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several research reports. Wolfe Research lowered 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. Royal Bank of Canada upped their target price on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Truist Financial upped their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. 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 research note on Friday, December 6th. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity

In other 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 value of $1,305,783.78. Following 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.