B. Metzler seel. Sohn & Co. Holding AG Acquires Shares of 58,368 Prologis, Inc. (NYSE:PLD)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,368 shares of the real estate investment trust's stock, valued at approximately $7,371,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Swedbank AB bought a new position in Prologis during the 1st quarter worth about $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis during the 2nd quarter worth about $203,223,000. AMF Tjanstepension AB grew its holdings in Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Federated Hermes Inc. grew its holdings in Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock worth $199,343,000 after acquiring an additional 1,358,542 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Prologis by 137.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust's stock worth $208,518,000 after acquiring an additional 1,075,614 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PLD. Truist Financial increased their price target on shares of Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Evercore ISI increased their price target on shares of Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Royal Bank of Canada lowered shares of Prologis from an "outperform" rating to a "sector perform" rating and increased their price target for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Scotiabank decreased their price target on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating for the company in a research report on Friday, October 25th. Finally, Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $131.18.

Prologis Stock Performance

PLD traded down $0.59 during trading on Wednesday, reaching $114.54. 2,799,349 shares of the company's stock were exchanged, compared to its average volume of 3,642,393. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $106.08 billion, a P/E ratio of 34.60, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The company's fifty day simple moving average is $120.36 and its 200-day simple moving average is $118.27.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 5.34% and a net margin of 39.08%. Prologis's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. As a group, research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. Prologis's payout ratio is 116.01%.

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.