MetLife Investment Management LLC Trims Stake in Prologis, Inc. (NYSE:PLD)

MetLife Investment Management LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,831 shares of the real estate investment trust's stock after selling 6,357 shares during the period. MetLife Investment Management LLC's holdings in Prologis were worth $33,948,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. purchased a new position in Prologis during the 2nd quarter valued at about $27,000. Central Valley Advisors LLC bought a new stake in shares of Prologis in the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. grew its stake in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after buying an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis during the second quarter valued at $31,000. Institutional investors own 93.50% of the company's stock.

Prologis Stock Up 1.4 %

NYSE PLD traded up $1.64 during trading on Wednesday, reaching $117.81. 2,655,014 shares of the company's stock traded hands, compared to its average volume of 3,654,742. 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 company's 50 day simple moving average is $119.09 and its two-hundred day simple moving average is $118.61. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The firm has a market cap of $109.11 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. 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, sell-side analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Monday, September 16th. Prologis's payout ratio is currently 116.01%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PLD shares. Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Bank of America reissued a "neutral" rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a report on Wednesday, August 14th. Evercore ISI increased their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $131.25.

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.