Asset Management One Co. Ltd. Sells 37,734 Shares of Prologis, Inc. $PLD

Key Points

• Asset Management One Co. Ltd. has reduced its stake in Prologis, Inc. by 2.0%, selling 37,734 shares, which now represents about 0.6% of their portfolio.
• Prologis has received multiple buy and hold ratings from analysts, including a price target of $124.44 based on the average rating.
• The company reported a quarterly earnings of $1.49 per share, outperforming estimates and showing an 8.6% increase in revenue year-over-year.

Asset Management One Co. Ltd. decreased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,810,988 shares of the real estate investment trust's stock after selling 37,734 shares during the quarter. Prologis comprises about 0.6% of Asset Management One Co. Ltd.'s portfolio, making the stock its 24th largest holding. Asset Management One Co. Ltd. owned approximately 0.20% of Prologis worth $190,371,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. Brighton Jones LLC raised its stake in shares of Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after acquiring an additional 15,078 shares during the period. GAMMA Investing LLC raised its stake in shares of Prologis by 19.6% in the first quarter. GAMMA Investing LLC now owns 11,926 shares of the real estate investment trust's stock valued at $1,333,000 after acquiring an additional 1,956 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Prologis by 2.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 35,532 shares of the real estate investment trust's stock worth $3,972,000 after buying an additional 821 shares during the period. Legacy Advisors LLC lifted its holdings in Prologis by 64.0% during the 1st quarter. Legacy Advisors LLC now owns 3,562 shares of the real estate investment trust's stock valued at $398,000 after buying an additional 1,390 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Prologis by 1.2% during the 1st quarter. Bessemer Group Inc. now owns 868,877 shares of the real estate investment trust's stock valued at $97,130,000 after buying an additional 10,239 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Prologis in a report on Wednesday, October 8th. Mizuho set a $118.00 price objective on shares of Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Citigroup decreased their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Scotiabank set a $114.00 target price on shares of Prologis and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Finally, UBS Group set a $137.00 target price on shares of Prologis and gave the company a "buy" rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $124.44.

Prologis Stock Down 0.0%

Shares of Prologis stock opened at $125.93 on Friday. The firm's 50 day moving average price is $114.80 and its 200-day moving average price is $108.74. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The company has a market cap of $116.95 billion, a P/E ratio of 36.71, a PEG ratio of 3.19 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. The company's quarterly revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. Prologis's payout ratio is presently 117.78%.

Insider Buying and Selling

In related news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the sale, the director owned 9,829 shares of the company's stock, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,500 shares of company stock worth $2,952,095. Insiders own 0.57% 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.

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