9,204 Shares in Prologis, Inc. $PLD Purchased by Shum Financial Group Inc.

Shum Financial Group Inc. bought a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 9,204 shares of the real estate investment trust’s stock, valued at approximately $1,054,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. Merit Financial Group LLC lifted its stake in Prologis by 10.5% in the 3rd quarter. Merit Financial Group LLC now owns 21,595 shares of the real estate investment trust’s stock valued at $2,473,000 after buying an additional 2,050 shares in the last quarter. Moody Lynn & Lieberson LLC increased its position in shares of Prologis by 11.4% in the third quarter. Moody Lynn & Lieberson LLC now owns 2,432 shares of the real estate investment trust’s stock worth $279,000 after acquiring an additional 249 shares in the last quarter. Calamos Wealth Management LLC raised its stake in shares of Prologis by 27.6% in the 3rd quarter. Calamos Wealth Management LLC now owns 138,742 shares of the real estate investment trust’s stock valued at $15,889,000 after acquiring an additional 29,983 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Prologis by 7.2% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 470,520 shares of the real estate investment trust’s stock worth $53,884,000 after purchasing an additional 31,800 shares during the period. Finally, Smith Salley Wealth Management increased its holdings in Prologis by 1.7% in the 3rd quarter. Smith Salley Wealth Management now owns 9,497 shares of the real estate investment trust’s stock valued at $1,088,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of recent research reports. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a research report on Monday, October 20th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and increased their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Evercore ISI lifted their price objective on Prologis from $116.00 to $118.00 in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Prologis in a research report on Monday. Finally, Barclays decreased their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.00.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the transaction, the director owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by insiders.

Prologis Trading Up 0.4%

NYSE:PLD opened at $128.96 on Wednesday. The company has a market cap of $119.79 billion, a PE ratio of 37.60, a P/E/G ratio of 3.95 and a beta of 1.39. The business’s 50 day moving average is $126.69 and its two-hundred day moving average is $116.41. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $131.70.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.21 billion for the quarter. On average, analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. Prologis’s dividend payout ratio is 117.78%.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.