Royal London Asset Management Ltd. Buys 23,973 Shares of Prologis, Inc. (NYSE:PLD)

Royal London Asset Management Ltd. increased its stake in Prologis, Inc. (NYSE:PLD) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 696,452 shares of the real estate investment trust’s stock after purchasing an additional 23,973 shares during the period. Royal London Asset Management Ltd.’s holdings in Prologis were worth $73,615,000 as of its most recent SEC filing.

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

Prologis Price Performance

Shares of NYSE PLD opened at $113.03 on Thursday. The company has a fifty day moving average price of $117.31 and a 200 day moving average price of $117.25. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The firm has a market cap of $104.77 billion, a PE ratio of 28.26, a PEG ratio of 2.70 and a beta of 1.09. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.57%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Truist Financial increased their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Robert W. Baird raised their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.