37,329 Prologis, Inc. $PLD Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group increased its Prologis position by 37,329 shares, bringing its holdings to 3.8 million shares worth approximately $493.2 million. Institutional investors collectively own 93.5% of Prologis.
• Prologis shares opened at $128.09, near the lower end of their 12-month range of $121.40 to $153.35. The company recently paid a quarterly dividend of $1.07 per share, equivalent to a 3.3% annualized yield.
• Analysts maintain a generally positive outlook, with Prologis receiving a “Moderate Buy” consensus rating and an average price target of $154.68.

Sumitomo Mitsui Trust Group Inc. lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 1.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,798,254 shares of the real estate investment trust's stock after purchasing an additional 37,329 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.41% of Prologis worth $493,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PLD. BlackRock Inc. bought a new stake in Prologis during the 2nd quarter valued at $14,006,587,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Prologis by 4.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,753,884 shares of the real estate investment trust's stock worth $1,998,709,000 after buying an additional 618,467 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Prologis by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,565,453 shares of the real estate investment trust's stock worth $1,528,636,000 after buying an additional 110,681 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Prologis during the 2nd quarter worth $1,473,965,000. Finally, Bank of America Corp DE bought a new position in shares of Prologis during the 2nd quarter worth $1,427,256,000. Institutional investors own 93.50% of the company's stock.

Prologis Stock Up 0.1%

Shares of NYSE PLD opened at $128.09 on Friday. Prologis, Inc. has a 12-month low of $121.40 and a 12-month high of $153.35. The stock's fifty day simple moving average is $132.95 and its two-hundred day simple moving average is $137.78. The stock has a market capitalization of $121.75 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.31. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.61.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.28 dividend on an annualized basis and a yield of 3.3%. Prologis's dividend payout ratio (DPR) is presently 94.48%.

Analyst Ratings Changes

Several research firms recently weighed in on PLD. UBS Group set a $150.00 price objective on Prologis in a report on Friday, October 16th. Wells Fargo & Company lowered their price objective on shares of Prologis from $167.00 to $166.00 and set an "overweight" rating for the company in a research note on Tuesday, September 1st. Weiss Ratings cut shares of Prologis from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 26th. Scotiabank upgraded shares of Prologis from a "sector perform" rating to a "sector outperform" rating and set a $150.00 target price on the stock in a report on Tuesday, October 13th. Finally, Robert W. Baird cut their target price on shares of Prologis from $140.00 to $136.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $154.68.

Prologis Company Profile

Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.

The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.

Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.

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