Joseph Ghazal Sells 10,997 Shares of Prologis, Inc. (NYSE:PLD) Stock

Prologis, Inc. (NYSE:PLD) CIO Joseph Ghazal sold 10,997 shares of the 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Prologis Trading Down 1.0 %

Prologis stock opened at $117.39 on Friday. The stock has a market cap of $108.72 billion, a P/E ratio of 29.35, a PEG ratio of 2.66 and a beta of 1.10. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm’s fifty day moving average price is $111.10 and its 200-day moving average price is $118.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Institutional Investors Weigh In On Prologis

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dunhill Financial LLC increased its holdings 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 worth $33,000 after buying an additional 182 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Prologis in the fourth quarter worth $30,000. Promus Capital LLC bought a new position in Prologis in the fourth quarter valued at $34,000. Whipplewood Advisors LLC purchased a new stake in Prologis during the fourth quarter valued at about $34,000. Finally, Hara Capital LLC bought a new stake in Prologis during the third quarter worth about $48,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PLD shares. UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Wolfe Research decreased their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average 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.