Prologis, Inc. (NYSE:PLD) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Prologis, Inc. (NYSE:PLD) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,519,818 shares of the real estate investment trust’s stock after acquiring an additional 175,276 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.03% of Prologis worth $1,268,992,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after purchasing an additional 1,034,211 shares during the last quarter. FMR LLC lifted its stake in shares of Prologis by 1.2% in the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after buying an additional 197,693 shares in the last quarter. Northern Trust Corp boosted its position in Prologis by 0.7% during the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after acquiring an additional 92,036 shares during the last quarter. Principal Financial Group Inc. grew its stake in Prologis by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after acquiring an additional 268,667 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Prologis by 0.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,981,242 shares of the real estate investment trust’s stock valued at $1,008,898,000 after acquiring an additional 76,605 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PLD. BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Royal Bank of Canada lowered their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday. Barclays cut their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Argus lowered their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Trading Down 1.0 %

NYSE:PLD traded down $1.05 on Wednesday, reaching $106.71. 1,214,611 shares of the company’s stock were exchanged, compared to its average volume of 3,539,616. The firm has a market capitalization of $98.80 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $121.06 and a 200-day moving average of $121.90.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.60%. Prologis’s dividend payout ratio is 112.28%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.