Impax Asset Management Group plc Buys 42,091 Shares of Prologis, Inc. (NYSE:PLD)

Impax Asset Management Group plc raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 322,764 shares of the real estate investment trust's stock after acquiring an additional 42,091 shares during the period. Impax Asset Management Group plc's holdings in Prologis were worth $34,116,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PLD. State Street Corp increased its holdings in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock worth $7,250,157,000 after purchasing an additional 767,609 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust's stock worth $2,612,395,000 after buying an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust's stock worth $1,291,743,000 after buying an additional 441,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust's stock valued at $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Finally, Swedbank AB lifted its stake in Prologis by 1.8% in the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust's stock valued at $486,514,000 after acquiring an additional 80,575 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PLD shares. BTIG Research decreased their price target on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Royal Bank of Canada raised their target price on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. Truist Financial boosted their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Finally, Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Prologis has an average rating of "Moderate Buy" and a consensus target price of $128.78.

Prologis Trading Up 0.6 %

PLD stock traded up $0.75 during trading on Thursday, hitting $122.91. The company had a trading volume of 2,293,294 shares, compared to its average volume of 3,806,582. The stock has a market cap of $113.92 billion, a PE ratio of 30.73, a PEG ratio of 2.70 and a beta of 1.10. The business has a 50-day moving average of $113.44 and a 200-day moving average of $118.02. 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, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued 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 3.29%. Prologis's payout ratio is presently 101.00%.

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.