Sumitomo Mitsui Trust Holdings Inc. Sells 103,204 Shares of Prologis, Inc. (NYSE:PLD)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,557,603 shares of the real estate investment trust’s stock after selling 103,204 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Prologis were worth $593,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PLD. Optimum Investment Advisors purchased a new stake in Prologis during the 1st quarter worth about $26,000. True Wealth Design LLC bought a new stake in shares of Prologis during the fourth quarter valued at about $27,000. Thompson Investment Management Inc. bought a new stake in shares of Prologis during the fourth quarter valued at about $28,000. JFS Wealth Advisors LLC lifted its holdings in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares in the last quarter. Finally, Clear Investment Research LLC boosted its position in shares of Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock traded up $0.82 during trading hours on Wednesday, hitting $114.03. 432,399 shares of the company’s stock were exchanged, compared to its average volume of 3,722,182. The company has a market capitalization of $105.57 billion, a PE ratio of 33.10, a PEG ratio of 2.50 and a beta of 1.06. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The business’s 50 day simple moving average is $108.29 and its 200-day simple moving average is $121.60.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.37%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio is presently 112.28%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PLD. Evercore ISI decreased their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday, April 18th. StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Mizuho lowered their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. Finally, Barclays lowered their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.76.

Prologis 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.