Community Financial Services Group LLC Buys 1,757 Shares of Prologis, Inc. (NYSE:PLD)

Community Financial Services Group LLC increased its position in Prologis, Inc. (NYSE:PLD) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 comprises about 1.1% of Community Financial Services Group LLC’s holdings, making the stock its 27th biggest holding. Community Financial Services Group LLC’s holdings in Prologis were worth $5,801,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. AMF Tjanstepension AB raised its holdings in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. CWM LLC increased its position in shares of Prologis by 6.6% in the third quarter. CWM LLC now owns 20,255 shares of the real estate investment trust’s stock worth $2,558,000 after purchasing an additional 1,257 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Prologis by 29.6% in the third quarter. Exchange Traded Concepts LLC now owns 6,229 shares of the real estate investment trust’s stock valued at $787,000 after purchasing an additional 1,424 shares in the last quarter. Procyon Advisors LLC lifted its position in Prologis by 60.1% during the third quarter. Procyon Advisors LLC now owns 4,717 shares of the real estate investment trust’s stock valued at $595,000 after purchasing an additional 1,771 shares during the last quarter. Finally, Fiduciary Alliance LLC purchased a new position in Prologis in the 3rd quarter worth approximately $208,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLD shares. Barclays raised their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Wolfe Research decreased their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Up 1.9 %

Shares of Prologis stock opened at $121.76 on Wednesday. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a market cap of $112.77 billion, a P/E ratio of 30.44, a PEG ratio of 2.64 and a beta of 1.10. The company’s fifty day simple moving average is $111.19 and its two-hundred day simple moving average is $118.14.

Prologis Dividend Announcement

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