Prologis, Inc. (NYSE:PLD) Shares Sold by TCTC Holdings LLC

TCTC Holdings LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,149 shares of the real estate investment trust’s stock after selling 496 shares during the period. TCTC Holdings LLC’s holdings in Prologis were worth $1,284,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in Prologis during the 4th quarter worth $30,000. Dunhill Financial LLC grew 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 acquiring an additional 182 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in Prologis during the 4th quarter worth $34,000. Promus Capital LLC acquired a new position in Prologis during the 4th quarter worth $34,000. Finally, Coastline Trust Co acquired a new position in shares of Prologis in the 3rd quarter valued at about $52,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PLD shares. UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Trading Up 1.5 %

Shares of NYSE:PLD opened at $111.98 on Monday. The company has a 50 day moving average of $116.89 and a 200-day moving average of $117.46. The firm has a market cap of $103.79 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.

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.