Tokio Marine Asset Management Co. Ltd. Purchases 2,179 Shares of Prologis, Inc. (NYSE:PLD)

Tokio Marine Asset Management Co. Ltd. raised its position in Prologis, Inc. (NYSE:PLD) by 9.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 26,044 shares of the real estate investment trust’s stock after acquiring an additional 2,179 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Prologis were worth $3,289,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Prologis during the 1st quarter worth approximately $352,000. Lord Abbett & CO. LLC grew its holdings in shares of Prologis by 1.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 200,161 shares of the real estate investment trust’s stock worth $26,065,000 after purchasing an additional 2,696 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Prologis by 1.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 92,143 shares of the real estate investment trust’s stock worth $11,999,000 after purchasing an additional 916 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Prologis by 16.0% during the 1st quarter. Blair William & Co. IL now owns 29,186 shares of the real estate investment trust’s stock worth $3,801,000 after purchasing an additional 4,020 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Prologis by 0.8% during the 1st quarter. Brighton Jones LLC now owns 14,337 shares of the real estate investment trust’s stock worth $1,867,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLD. JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Scotiabank dropped their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Evercore ISI upped their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Down 1.2 %

Shares of Prologis stock traded down $1.40 during midday trading on Thursday, hitting $115.17. The company had a trading volume of 304,640 shares, compared to its average volume of 3,633,541. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $106.67 billion, a P/E ratio of 35.21, a P/E/G ratio of 2.96 and a beta of 1.08. The company has a 50 day moving average of $121.87 and a 200 day moving average of $117.90. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 earnings per share. On average, equities analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.33%. Prologis’s dividend payout ratio is currently 116.01%.

Insider Buying and Selling

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

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.