Invesco Ltd. Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Invesco Ltd. raised its position in Prologis, Inc. (NYSE:PLD) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 11,577,456 shares of the real estate investment trust’s stock after buying an additional 44,702 shares during the quarter. Invesco Ltd.’s holdings in Prologis were worth $1,223,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis in the 4th quarter valued at about $26,000. Dunhill Financial LLC grew its stake in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Prologis in the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis during the 4th quarter valued at $30,000. Finally, Promus Capital LLC purchased a new position in Prologis in the fourth quarter worth $34,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In related 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 transaction of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

PLD opened at $98.10 on Monday. The firm has a market cap of $90.94 billion, a PE ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 1.20. The stock has a 50-day moving average price of $116.86 and a 200-day moving average price of $115.46. Prologis, Inc. has a 1 year low of $95.34 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 4.12%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PLD shares. Scotiabank cut their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Robert W. Baird increased their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BTIG Research cut their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.