Prologis, Inc. (NYSE:PLD) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,150 shares of the real estate investment trust’s stock after purchasing an additional 10,262 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Prologis were worth $34,115,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PLD. Vanguard Group Inc. lifted its position in Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after buying an additional 317,815 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after acquiring an additional 167,131 shares during the period. Finally, Centersquare Investment Management LLC raised its position in Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after acquiring an additional 367,565 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. Bank of America reaffirmed a “neutral” rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Evercore ISI upped their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. The Goldman Sachs Group boosted their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley raised their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.71.

Prologis Stock Down 3.3 %

NYSE:PLD opened at $122.74 on Friday. The stock has a 50-day simple moving average of $125.42 and a 200 day simple moving average of $117.76. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a market capitalization of $113.64 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. Sell-side analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

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.