Whittier Trust Co. of Nevada Inc. Has $2.11 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Whittier Trust Co. of Nevada Inc. cut its stake in Prologis, Inc. (NYSE:PLD) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,962 shares of the real estate investment trust’s stock after selling 2,383 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Prologis were worth $2,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Centricity Wealth Management LLC bought a new position in shares of Prologis in the 4th quarter valued at $30,000. Dunhill Financial LLC increased its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Prologis in the 4th quarter valued at $34,000. Promus Capital LLC bought a new position in shares of Prologis in the 4th quarter valued at $34,000. Finally, Asset Planning Inc bought a new position in shares of Prologis in the 4th quarter valued at $53,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s 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 $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by company insiders.

Prologis Stock Down 3.4 %

Shares of NYSE:PLD opened at $108.27 on Friday. The company has a market capitalization of $100.35 billion, a price-to-earnings ratio of 27.07, 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. The business’s 50-day moving average is $117.54 and its 200-day moving average is $116.99. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57.

Prologis Increases Dividend

The firm also recently disclosed 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. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.73%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLD. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Truist Financial lifted their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Robert W. Baird boosted their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given 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, Prologis presently has an average rating of “Moderate Buy” and an average target price 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.