Invesco Ltd. Purchases 44,702 Shares of Prologis, Inc. (NYSE:PLD)

Invesco Ltd. raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,577,456 shares of the real estate investment trust’s stock after purchasing an additional 44,702 shares during the period. Invesco Ltd. owned 1.25% of Prologis worth $1,223,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis in the 4th quarter valued at $26,000. Crowley Wealth Management Inc. bought a new stake in Prologis during the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new stake in Prologis during the fourth quarter worth about $30,000. Dunhill Financial LLC grew 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 purchasing an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Prologis during the 4th quarter worth approximately $34,000. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on PLD. Scotiabank dropped their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Truist Financial boosted their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Performance

PLD opened at $98.10 on Monday. The company has a market cap of $90.94 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.70 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1-year low of $95.34 and a 1-year high of $132.57. The company’s fifty day moving average price is $116.86 and its two-hundred day moving average price is $115.46.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. 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. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

About Prologis

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.