Paragon Private Wealth Management LLC Decreases Position in Prologis, Inc. (NYSE:PLD)

Paragon Private Wealth Management LLC cut its holdings in Prologis, Inc. (NYSE:PLD) by 7.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,532 shares of the real estate investment trust’s stock after selling 711 shares during the period. Paragon Private Wealth Management LLC’s holdings in Prologis were worth $902,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empirical Asset Management LLC boosted its holdings in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares during the period. Cardano Risk Management B.V. raised its position in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in Prologis in the 3rd quarter worth $1,051,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Prologis in the third quarter valued at about $7,371,000. Finally, Cumberland Partners Ltd purchased a new position in shares of Prologis in the third quarter valued at about $1,566,000. 93.50% of the stock is owned by institutional investors.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $119.89 on Monday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. 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 company has a fifty day simple moving average of $115.96 and a two-hundred day simple moving average of $117.93. The firm has a market capitalization of $111.12 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.37%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 101.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BTIG Research cut 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. Barclays upped their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Scotiabank decreased their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Wolfe Research decreased their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target 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.