Checchi Capital Advisers LLC Sells 290 Shares of Prologis, Inc. (NYSE:PLD)

Checchi Capital Advisers LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,836 shares of the real estate investment trust’s stock after selling 290 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Prologis were worth $1,674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in Prologis in the fourth quarter valued at about $30,000. Dunhill Financial LLC grew its position 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. Hara Capital LLC bought a new position in shares of Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co purchased a new stake in Prologis during the third quarter valued at approximately $52,000. Finally, Asset Planning Inc acquired a new stake in Prologis in the fourth quarter valued at approximately $53,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PLD shares. Scotiabank reduced their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Baird R W raised shares of 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 assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 transaction, the executive now directly 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. 0.56% of the stock is owned by corporate insiders.

Prologis Price Performance

Prologis stock opened at $122.69 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $113.07 and a 200-day simple moving average of $117.99. The stock has a market cap of $113.72 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.29%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is 101.00%.

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.