APG Asset Management US Inc. Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

APG Asset Management US Inc. lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,711,375 shares of the real estate investment trust’s stock after selling 15,000 shares during the quarter. Prologis comprises 12.6% of APG Asset Management US Inc.’s portfolio, making the stock its biggest holding. APG Asset Management US Inc. owned 2.13% of Prologis worth $2,206,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nordea Investment Management AB grew its holdings in 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 valued at $43,046,000 after buying an additional 263,649 shares in the last quarter. Swedbank AB grew its holdings in Prologis by 9.2% during the 2nd 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. grew its holdings in Prologis by 36.1% during 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 in the last quarter. Atalanta Sosnoff Capital LLC purchased a new position in Prologis during the 4th quarter valued at approximately $18,551,000. Finally, US Bancorp DE grew its holdings 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 valued at $88,148,000 after buying an additional 41,469 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock opened at $125.45 on Thursday. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market capitalization of $116.16 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 3.25 and a beta of 1.07. The stock has a fifty day simple moving average of $125.70 and a two-hundred day simple moving average of $118.45. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 earnings per share. On average, analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Analysts Set New Price Targets

PLD has been the topic of several analyst reports. Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. 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. Evercore ISI boosted their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Argus boosted their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.35.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s 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 completion of the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by company insiders.

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.