Commerzbank Aktiengesellschaft FI Has $2.69 Million Stake in Prologis, Inc. (NYSE:PLD)

Commerzbank Aktiengesellschaft FI lifted its holdings in shares of 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 and Exchange Commission (SEC). The firm owned 25,622 shares of the real estate investment trust’s stock after purchasing 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.

Other institutional investors and hedge funds have also modified their holdings of the company. Centricity Wealth Management LLC acquired a new stake in Prologis during the 4th quarter worth approximately $30,000. Dunhill Financial LLC increased its position in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the fourth quarter worth $34,000. Hara Capital LLC bought a new stake in Prologis in the 3rd quarter valued at $48,000. Finally, Coastline Trust Co acquired a new position in Prologis in the 3rd quarter worth $52,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PLD shares. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Scotiabank cut their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. UBS Group upped their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

NYSE:PLD opened at $123.48 on Tuesday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The firm has a market capitalization of $114.45 billion, a price-to-earnings ratio of 30.87, a P/E/G ratio of 2.70 and a beta of 1.10. The stock’s 50 day moving average price is $114.66 and its two-hundred day moving average price is $118.00. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

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.