Patten & Patten Inc. TN Sells 2,651 Shares of Prologis, Inc. (NYSE:PLD)

Patten & Patten Inc. TN decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,916 shares of the real estate investment trust’s stock after selling 2,651 shares during the period. Patten & Patten Inc. TN’s holdings in Prologis were worth $1,894,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC increased 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 valued at $33,000 after acquiring an additional 182 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Prologis in the fourth quarter worth approximately $30,000. Promus Capital LLC purchased a new stake in Prologis in the fourth quarter worth approximately $34,000. Whipplewood Advisors LLC purchased a new stake in Prologis in the fourth quarter worth approximately $34,000. Finally, Coastline Trust Co purchased a new stake in Prologis in the third quarter worth approximately $52,000. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction 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 sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

Prologis Stock Performance

Shares of NYSE PLD opened at $111.98 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company 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. The firm’s fifty day moving average is $116.89 and its two-hundred day moving average is $117.46. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

PLD has been the topic of several research reports. Barclays raised their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Royal Bank of Canada raised their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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.