Prologis, Inc. (NYSE:PLD) Shares Purchased by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,940 shares of the real estate investment trust’s stock after purchasing an additional 950 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Prologis were worth $1,116,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Optimum Investment Advisors acquired a new position in Prologis in the 1st quarter valued at about $26,000. American Capital Advisory LLC acquired a new position in shares of Prologis in the second quarter valued at approximately $26,000. True Wealth Design LLC purchased a new stake in shares of Prologis during the fourth quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis during the second quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis in the 2nd quarter valued at $31,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction 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 sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on PLD shares. The Goldman Sachs Group upped their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Truist Financial boosted their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.35.

Prologis Price Performance

Shares of NYSE PLD opened at $125.47 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $125.48 and its 200 day moving average price is $118.74. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The stock has a market cap of $116.17 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.06%. Prologis’s dividend payout ratio (DPR) is 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.