Prologis, Inc. (NYSE:PLD) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 17.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 280,673 shares of the real estate investment trust’s stock after selling 57,297 shares during the quarter. Impax Asset Management Group plc’s holdings in Prologis were worth $35,443,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PLD. Red Cedar Investment Management LLC acquired a new stake in Prologis during the 3rd quarter valued at $1,230,000. Quintet Private Bank Europe S.A. increased its position in shares of Prologis by 28.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 7,496 shares of the real estate investment trust’s stock worth $947,000 after acquiring an additional 1,672 shares during the last quarter. PDS Planning Inc boosted its holdings in Prologis by 3.0% in the third quarter. PDS Planning Inc now owns 4,739 shares of the real estate investment trust’s stock valued at $598,000 after purchasing an additional 139 shares during the last quarter. QRG Capital Management Inc. grew its stake in Prologis by 9.0% during the 3rd quarter. QRG Capital Management Inc. now owns 86,565 shares of the real estate investment trust’s stock valued at $10,931,000 after purchasing an additional 7,124 shares in the last quarter. Finally, National Pension Service increased its holdings in Prologis by 13.8% during the 3rd quarter. National Pension Service now owns 2,022,234 shares of the real estate investment trust’s stock worth $255,368,000 after purchasing an additional 244,709 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on PLD shares. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Wells Fargo & Company upped their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Morgan Stanley lifted their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Price Performance

Shares of Prologis stock opened at $113.86 on Tuesday. The company’s 50-day moving average price is $123.71 and its two-hundred day moving average price is $117.47. The stock has a market cap of $105.45 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

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.