Prologis, Inc. (NYSE:PLD) Shares Purchased by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 83.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,779,830 shares of the real estate investment trust’s stock after acquiring an additional 1,723,129 shares during the quarter. Prologis comprises about 1.4% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 27th largest holding. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Prologis were worth $399,528,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Empirical Asset Management LLC lifted its holdings in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares during the period. Cardano Risk Management B.V. lifted its stake in Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after acquiring an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after acquiring an additional 179,880 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of Prologis during the third quarter worth $1,051,000. Finally, Banco Santander S.A. lifted its position in Prologis by 88.0% during the fourth quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 2,192 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Trading Down 0.3 %

Shares of PLD stock opened at $110.37 on Friday. 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 twelve month low of $100.82 and a twelve month high of $132.57. The company’s 50-day moving average price is $117.74 and its 200-day moving average price is $116.34. The stock has a market cap of $102.29 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Ratings Changes

A number of research firms have weighed in on PLD. Scotiabank reduced their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Royal Bank of Canada lifted their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Mizuho dropped their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird lifted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, BTIG Research dropped their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.