Coordinated Financial Services Inc. Purchases Shares of 3,703 Prologis, Inc. (NYSE:PLD)

Coordinated Financial Services Inc. purchased a new stake in Prologis, Inc. (NYSE:PLD) in the 4th quarter, Holdings Channel.com reports. The fund purchased 3,703 shares of the real estate investment trust’s stock, valued at approximately $391,000.

Several other institutional investors also recently bought and sold shares of PLD. Centricity Wealth Management LLC purchased a new stake in Prologis during the 4th quarter worth $30,000. Dunhill Financial LLC boosted its position in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Whipplewood Advisors LLC purchased a new stake in Prologis during the 4th quarter worth $34,000. Promus Capital LLC purchased a new stake in Prologis during the 4th quarter worth $34,000. Finally, Coastline Trust Co purchased a new stake in Prologis during the 3rd quarter worth $52,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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 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 owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PLD shares. BTIG Research decreased their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Scotiabank decreased their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Finally, Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

Shares of NYSE:PLD opened at $119.89 on Friday. The firm’s 50 day moving average is $115.96 and its two-hundred day moving average is $117.97. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The firm has a market capitalization of $111.12 billion, a P/E ratio of 29.97, a PEG ratio of 2.70 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.37%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 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.