Community Financial Services Group LLC Grows Stake in Prologis, Inc. (NYSE:PLD)

Community Financial Services Group LLC increased its position in Prologis, Inc. (NYSE:PLD) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 54,879 shares of the real estate investment trust’s stock after acquiring an additional 1,757 shares during the quarter. Prologis makes up approximately 1.1% of Community Financial Services Group LLC’s holdings, making the stock its 27th largest holding. Community Financial Services Group LLC’s holdings in Prologis were worth $5,801,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PLD. ASB Consultores LLC increased its holdings in Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares during the last quarter. CX Institutional increased its holdings in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the last quarter. Principle Wealth Partners LLC lifted its position in shares of Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after buying an additional 92 shares in the last quarter. DT Investment Partners LLC boosted its stake in Prologis by 9.8% during the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 93 shares during the last quarter. Finally, Carmel Capital Partners LLC increased its stake in Prologis by 2.6% in the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 94 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Scotiabank reduced their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Up 1.9 %

Shares of NYSE:PLD opened at $121.76 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $111.19 and its 200 day moving average is $118.14. The stock has a market cap of $112.77 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.15%. Prologis’s dividend payout ratio is currently 96.00%.

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.