Prologis, Inc. $PLD Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 14.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 214,436 shares of the real estate investment trust’s stock after selling 34,829 shares during the period. Impax Asset Management Group plc’s holdings in Prologis were worth $22,542,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. Jump Financial LLC acquired a new position in Prologis during the 1st quarter worth $2,120,000. Ally Financial Inc. increased its holdings in shares of Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after purchasing an additional 4,000 shares during the period. Inspire Investing LLC raised its stake in shares of Prologis by 9.0% during the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock valued at $10,129,000 after purchasing an additional 7,518 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Prologis during the first quarter valued at about $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its holdings in Prologis by 14.3% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock worth $7,579,000 after purchasing an additional 8,470 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total transaction of $61,570.00. Following the completion of the sale, the director directly owned 8,829 shares of the company’s stock, valued at $1,087,203.06. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 27,000 shares of company stock valued at $3,013,665. 0.57% of the stock is currently owned by company insiders.

Prologis Stock Down 1.1%

PLD stock opened at $124.87 on Thursday. The firm has a market cap of $115.98 billion, a PE ratio of 36.40, a P/E/G ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. The firm has a 50 day simple moving average of $118.73 and a 200 day simple moving average of $111.49.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts forecast 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 Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. Prologis’s payout ratio is 117.78%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a research note on Monday, October 20th. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and increased their price objective for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Citigroup dropped their target price on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Finally, Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $125.39.

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.