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

Impax Asset Management Group plc trimmed its position in Prologis, Inc. (NYSE:PLD - Free Report) by 22.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,265 shares of the real estate investment trust's stock after selling 73,499 shares during the quarter. Impax Asset Management Group plc's holdings in Prologis were worth $27,865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. REAP Financial Group LLC raised its stake in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares in the last quarter. Phoenix Financial Ltd. grew its stake in Prologis by 1.0% during the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock worth $955,000 after buying an additional 86 shares during the last quarter. CreativeOne Wealth LLC increased its position in Prologis by 1.7% during the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock worth $642,000 after buying an additional 100 shares during the period. Focus Financial Network Inc. lifted its stake in Prologis by 5.2% in the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock valued at $234,000 after buying an additional 104 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Prologis by 9.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust's stock valued at $142,000 after acquiring an additional 113 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Down 0.3%

NYSE:PLD opened at $108.03 on Friday. The company has a market capitalization of $100.24 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.74 and a beta of 1.23. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The stock has a fifty day simple moving average of $106.82 and a 200-day simple moving average of $109.39.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Mizuho cut their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Morgan Stanley dropped their price objective on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Evercore ISI reduced their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Scotiabank raised their price target on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Finally, Robert W. Baird dropped their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $120.42.

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.

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