Impact Capital Partners LLC Acquires New Shares in Prologis, Inc. (NYSE:PLD)

Impact Capital Partners LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,403 shares of the real estate investment trust’s stock, valued at approximately $1,205,000.

Several other hedge funds have also recently added to or reduced their stakes in PLD. Principle Wealth Partners LLC lifted its position in shares of Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 92 shares during the last quarter. Black Diamond Financial LLC raised its holdings in Prologis by 2.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after acquiring an additional 93 shares in the last quarter. Berkshire Bank raised its holdings in Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after acquiring an additional 95 shares in the last quarter. J.Safra Asset Management Corp lifted its position in shares of Prologis by 22.3% in the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 102 shares during the period. Finally, Bridgewater Associates LP lifted its position in shares of Prologis by 4.0% in the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after acquiring an additional 103 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of a number of recent research reports. UBS Group increased their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One equities 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

NYSE:PLD opened at $115.70 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock’s 50-day simple moving average is $116.65 and its 200 day simple moving average is $117.78. The company has a market cap of $107.23 billion, a P/E ratio of 28.92, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.27.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given 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 3.49%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 101.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred 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 owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

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.