Prologis, Inc. (NYSE:PLD) Stock Position Decreased by Perpetual Ltd

Perpetual Ltd lessened its holdings in Prologis, Inc. (NYSE:PLD) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,556 shares of the real estate investment trust’s stock after selling 18,396 shares during the period. Perpetual Ltd’s holdings in Prologis were worth $26,336,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PLD. Nordea Investment Management AB lifted its holdings in shares of Prologis by 380.0% during the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after acquiring an additional 263,649 shares during the period. Swedbank AB lifted its stake in Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after buying an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares during the last quarter. US Bancorp DE lifted its position in Prologis by 6.5% during the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after buying an additional 41,469 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in shares of Prologis by 5.7% in the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after buying an additional 367,565 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets reissued a “market perform” rating and set a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Royal Bank of Canada downgraded shares of 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. Wells Fargo & Company boosted their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group raised their target price on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.35.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.50% of the company’s stock.

Prologis Trading Down 0.4 %

Shares of PLD stock opened at $118.85 on Thursday. The company has a market cap of $110.04 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 3.25 and a beta of 1.07. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The stock has a 50 day simple moving average of $125.49 and a 200-day simple moving average of $117.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last posted 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 return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the firm earned $1.83 EPS. The firm’s revenue was down 18.1% on a year-over-year basis. On average, equities research analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 112.28%.

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.