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

Impax Asset Management Group plc boosted its stake in Prologis, Inc. (NYSE:PLD) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,764 shares of the real estate investment trust’s stock after purchasing an additional 42,091 shares during the quarter. 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 (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Crestwood Advisors Group LLC boosted its position in Prologis by 28.9% during the 4th quarter. Crestwood Advisors Group LLC now owns 2,237 shares of the real estate investment trust’s stock valued at $236,000 after buying an additional 502 shares during the period. IFP Advisors Inc grew its stake in shares of Prologis by 29.7% in the 4th quarter. IFP Advisors Inc now owns 4,624 shares of the real estate investment trust’s stock worth $489,000 after buying an additional 1,058 shares during the last quarter. Waverton Investment Management Ltd boosted its stake in Prologis by 61.7% in the 4th quarter. Waverton Investment Management Ltd now owns 510,899 shares of the real estate investment trust’s stock worth $54,010,000 after purchasing an additional 194,923 shares in the last quarter. Dover Advisors LLC increased its position in shares of Prologis by 22.5% during the fourth quarter. Dover Advisors LLC now owns 5,336 shares of the real estate investment trust’s stock valued at $564,000 after acquiring an additional 979 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in Prologis by 29.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 618 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 140 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Prologis Trading Up 0.1 %

Shares of PLD stock opened at $121.01 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $112.56 and its two-hundred day moving average is $117.99. The company has a market cap of $112.16 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 96.00%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PLD shares. Mizuho reduced their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. BTIG Research lowered their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Company 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.