Charles Schwab Investment Management Inc. Increases Position in Prologis, Inc. (NYSE:PLD)

Charles Schwab Investment Management Inc. grew its stake in Prologis, Inc. (NYSE:PLD) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,402,731 shares of the real estate investment trust’s stock after acquiring an additional 173,531 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.12% of Prologis worth $1,099,569,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dunhill Financial LLC increased its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the period. Centricity Wealth Management LLC purchased a new position in Prologis during the 4th quarter worth $30,000. Whipplewood Advisors LLC purchased a new position in Prologis during the 4th quarter worth $34,000. Hara Capital LLC purchased a new position in Prologis during the 3rd quarter worth $48,000. Finally, Coastline Trust Co purchased a new position in Prologis during the 3rd quarter worth $52,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLD has been the topic of several research analyst reports. Wolfe Research dropped their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Scotiabank dropped their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, Barclays increased their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Down 0.4 %

Shares of PLD opened at $123.48 on Tuesday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $114.45 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.70 and a beta of 1.10. The stock’s 50-day moving average price is $114.66 and its 200-day moving average price is $118.00.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. 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 3.27%. Prologis’s dividend payout ratio is presently 101.00%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents 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 the SEC website. Company insiders own 0.50% of the company’s stock.

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.