Sumitomo Mitsui Trust Group Inc. Lowers Stake in Prologis, Inc. (NYSE:PLD)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,205,183 shares of the real estate investment trust's stock after selling 104,047 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.45% of Prologis worth $531,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First National Trust Co increased its position in Prologis by 1.5% during the 3rd quarter. First National Trust Co now owns 41,728 shares of the real estate investment trust's stock valued at $5,269,000 after buying an additional 629 shares in the last quarter. Waverton Investment Management Ltd increased its position in Prologis by 9.5% during the 3rd quarter. Waverton Investment Management Ltd now owns 315,976 shares of the real estate investment trust's stock valued at $39,903,000 after buying an additional 27,545 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Prologis by 13.2% in the 3rd quarter. Harbour Investments Inc. now owns 3,114 shares of the real estate investment trust's stock worth $393,000 after purchasing an additional 364 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Prologis by 0.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 17,772 shares of the real estate investment trust's stock worth $2,244,000 after purchasing an additional 157 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Prologis by 7.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 9,973 shares of the real estate investment trust's stock worth $1,259,000 after purchasing an additional 710 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PLD. Royal Bank of Canada lowered Prologis from an "outperform" rating to a "sector perform" rating and lifted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Argus lifted their target price on Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. The Goldman Sachs Group reissued a "neutral" rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Morgan Stanley raised their price target on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. 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. According to MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.12.

Prologis Stock Performance

NYSE PLD traded down $0.47 on Tuesday, hitting $113.63. 1,294,749 shares of the company traded hands, compared to its average volume of 3,637,087. The company has a market capitalization of $105.24 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 3.04 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The business's 50 day moving average price is $122.42 and its 200-day moving average price is $117.85. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Prologis's revenue was up 6.9% on a year-over-year basis. Equities analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.38%. Prologis's dividend payout ratio (DPR) is 116.01%.

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.