Prologis, Inc. (NYSE:PLD) Shares Purchased by AIA Group Ltd

AIA Group Ltd lifted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 5.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 414,982 shares of the real estate investment trust's stock after acquiring an additional 20,483 shares during the period. Prologis makes up 1.4% of AIA Group Ltd's investment portfolio, making the stock its 13th biggest position. AIA Group Ltd's holdings in Prologis were worth $52,404,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PLD. Swedbank AB purchased a new position in shares of Prologis in the first quarter worth $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis during the 2nd quarter valued at about $203,223,000. Vanguard Group Inc. boosted its holdings in shares of Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust's stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares during the last quarter. AMF Tjanstepension AB raised its holdings in shares of Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Prologis by 326.3% in the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock worth $199,343,000 after purchasing an additional 1,358,542 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays reduced their price objective on Prologis from $142.00 to $131.00 and set an "overweight" rating for the company in a research note on Thursday, October 10th. Argus lifted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Truist Financial increased their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Royal Bank of Canada lowered Prologis from an "outperform" rating to a "sector perform" rating and raised their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, StockNews.com raised Prologis from a "sell" rating to a "hold" rating in a research report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.12.

Prologis Trading Up 1.2 %

Shares of Prologis stock traded up $1.37 during trading hours on Friday, hitting $115.58. The company's stock had a trading volume of 1,526,372 shares, compared to its average volume of 3,640,349. The stock has a market cap of $107.05 billion, a price-to-earnings ratio of 34.51, a P/E/G ratio of 2.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The firm has a fifty day moving average of $123.15 and a 200-day moving average of $117.52.

Prologis (NYSE:PLD - Get Free Report) last released 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 company 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%. The company'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 firm earned $1.30 earnings per share. Research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced 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 of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. Prologis's dividend payout ratio (DPR) is 116.01%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,702,046.09. This trade represents a 0.00 % 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. Corporate insiders own 0.56% of the company's stock.

Prologis 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.