Impax Asset Management Group plc Has $34.12 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Impax Asset Management Group plc grew its holdings in Prologis, Inc. (NYSE:PLD) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 322,764 shares of the real estate investment trust’s stock after acquiring 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 SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PLD. Dunhill Financial LLC increased its stake in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Prologis during the 4th quarter worth approximately $30,000. Hara Capital LLC bought a new position in shares of Prologis in the 3rd quarter valued at $48,000. Coastline Trust Co bought a new stake in Prologis during the 3rd quarter worth $52,000. Finally, Fortitude Family Office LLC raised its position in Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. BTIG Research dropped their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. UBS Group upped their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Barclays lifted their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

PLD 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. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a market cap of $112.16 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10. The firm’s fifty day simple moving average is $112.56 and its two-hundred day simple moving average is $117.99.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued 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 of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 96.00%.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on 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 sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.

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.