Coordinated Financial Services Inc. Invests $391,000 in Prologis, Inc. (NYSE:PLD)

Coordinated Financial Services Inc. purchased a new stake in Prologis, Inc. (NYSE:PLD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,703 shares of the real estate investment trust's stock, valued at approximately $391,000.

A number of other hedge funds also recently modified their holdings of PLD. Dunhill Financial LLC lifted its position in shares of 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 buying an additional 182 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Prologis during the fourth quarter valued at $30,000. Promus Capital LLC bought a new stake in shares of Prologis in the 4th quarter worth about $34,000. Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the 4th quarter worth about $34,000. Finally, Coastline Trust Co bought a new position in Prologis during the 3rd quarter valued at about $52,000. Institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

PLD traded down $1.95 on Monday, reaching $117.97. The company had a trading volume of 4,237,916 shares, compared to its average volume of 3,849,610. The stock has a market cap of $109.34 billion, a P/E ratio of 29.49, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company's fifty day moving average is $115.96 and its 200 day moving average is $117.93.

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Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.42%. Prologis's dividend payout ratio is presently 101.00%.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company'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 transaction, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on PLD shares. Truist Financial lifted their price objective on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research report on Monday, January 27th. BNP Paribas raised Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Scotiabank lowered their target price on Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Monday, January 27th. Royal Bank of Canada lifted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Monday, January 27th. Finally, Mizuho dropped their price objective on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

Prologis 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.