Royal London Asset Management Ltd. increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 696,452 shares of the real estate investment trust's stock after acquiring an additional 23,973 shares during the quarter. Royal London Asset Management Ltd. owned about 0.08% of Prologis worth $73,615,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PLD. Pathstone Holdings LLC lifted its position in shares of Prologis by 0.6% during the 3rd quarter. Pathstone Holdings LLC now owns 99,551 shares of the real estate investment trust's stock worth $12,571,000 after purchasing an additional 557 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Prologis by 1.7% during the third quarter. Caprock Group LLC now owns 14,226 shares of the real estate investment trust's stock worth $1,797,000 after buying an additional 236 shares during the last quarter. Wrapmanager Inc. acquired a new position in shares of Prologis during the third quarter worth approximately $209,000. Fifth Third Wealth Advisors LLC boosted its position in shares of Prologis by 17.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 16,343 shares of the real estate investment trust's stock valued at $2,064,000 after acquiring an additional 2,415 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Prologis in the third quarter worth $7,371,000. Institutional investors and hedge funds own 93.50% of the company's stock.
In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction 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 transaction, the executive now owns 7,977 shares in the company, 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 this hyperlink. 0.50% of the stock is owned by company insiders.
A number of analysts have weighed in on the stock. Raymond James reissued a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Baird R W upgraded shares of Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. BMO Capital Markets lowered Prologis from a "market perform" rating to an "underperform" rating and lowered their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. UBS Group raised their price objective on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, BNP Paribas upgraded Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. 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 stock. Based on data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and an average price target of $128.78.
Check Out Our Latest Stock Report on Prologis
Shares of PLD stock opened at $113.03 on Thursday. The company has a market capitalization of $104.77 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. 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 firm has a 50-day moving average price of $117.31 and a 200 day moving average price of $117.25.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.57%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is 101.00%.
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.
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