Commerzbank Aktiengesellschaft FI Acquires 8,649 Shares of Prologis, Inc. (NYSE:PLD)

Commerzbank Aktiengesellschaft FI boosted its holdings in Prologis, Inc. (NYSE:PLD) by 51.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,622 shares of the real estate investment trust’s stock after acquiring an additional 8,649 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Prologis were worth $2,693,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PLD. Dunhill Financial LLC boosted its holdings in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Prologis in the 4th quarter valued at $30,000. Whipplewood Advisors LLC bought a new stake in Prologis in the fourth quarter valued at $34,000. Hara Capital LLC bought a new position in shares of Prologis during the third quarter valued at $48,000. Finally, Coastline Trust Co acquired a new position in Prologis in the third quarter valued at about $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 directly owns 7,977 shares in the company, 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 link. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $123.48 on Tuesday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a market capitalization of $114.45 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.70 and a beta of 1.10. The firm has a fifty day moving average of $114.66 and a two-hundred day moving average of $118.00.

Prologis Increases Dividend

The business also recently announced 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. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.27%. Prologis’s dividend payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PLD shares. Wolfe Research dropped their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

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.