SVB Wealth LLC Purchases New Holdings in Prologis, Inc. (NYSE:PLD)

SVB Wealth LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 4th quarter, Holdings Channel reports. The fund purchased 8,867 shares of the real estate investment trust’s stock, valued at approximately $937,000.

Several other large investors have also recently bought and sold shares of the stock. Private Trust Co. NA boosted its position in Prologis by 10.3% during the fourth quarter. Private Trust Co. NA now owns 4,186 shares of the real estate investment trust’s stock valued at $442,000 after purchasing an additional 391 shares during the last quarter. First American Bank raised its stake in Prologis by 1.6% in the fourth quarter. First American Bank now owns 39,103 shares of the real estate investment trust’s stock valued at $4,133,000 after buying an additional 604 shares during the period. QRG Capital Management Inc. raised its stake in Prologis by 16.3% in the fourth quarter. QRG Capital Management Inc. now owns 100,697 shares of the real estate investment trust’s stock valued at $10,644,000 after buying an additional 14,132 shares during the period. Proficio Capital Partners LLC raised its stake in Prologis by 18,374.0% in the fourth quarter. Proficio Capital Partners LLC now owns 346,388 shares of the real estate investment trust’s stock valued at $346,000 after buying an additional 344,513 shares during the period. Finally, Schnieders Capital Management LLC raised its stake in Prologis by 2.6% in the fourth quarter. Schnieders Capital Management LLC now owns 7,378 shares of the real estate investment trust’s stock valued at $780,000 after buying an additional 190 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. BMO Capital Markets lowered 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. Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. BTIG Research dropped their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $123.48 on Tuesday. The stock’s fifty day moving average price is $114.66 and its two-hundred day moving average price is $118.00. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. 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 firm has a market cap of $114.45 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 101.00%.

About Prologis

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.