MetLife Investment Management LLC Has $29.87 Million Stock Position in Prologis, Inc. $PLD

Key Points

• MetLife Investment Management LLC has reduced its stake in Prologis, Inc. by 1.9%, resulting in ownership of 267,158 shares valued at approximately $29.87 million.
• Several institutional investors significantly increased their holdings in Prologis during the first quarter, with First Citizens Bank & Trust Co. rising by 1,451.2% and Alley Investment Management increasing by 102.8%.
• Prologis exceeded earnings expectations with $1.46 EPS for the last quarter, boosting its stock performance, while analysts have set a consensus price target of $121.06.

MetLife Investment Management LLC trimmed its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 267,158 shares of the real estate investment trust's stock after selling 5,141 shares during the quarter. MetLife Investment Management LLC's holdings in Prologis were worth $29,866,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. REAP Financial Group LLC raised its holdings in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares during the last quarter. Pandora Wealth Inc. bought a new stake in Prologis during the 1st quarter worth about $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis during the 1st quarter worth about $34,000. Olde Wealth Management LLC bought a new stake in Prologis during the 1st quarter worth about $43,000. Finally, Cornerstone Planning Group LLC raised its holdings in Prologis by 63.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 152 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLD. Barclays dropped their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Truist Financial lowered their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Scotiabank set a $114.00 price objective on Prologis and gave the company a "sector perform" rating in a research report on Wednesday. Robert W. Baird reduced their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.83.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.57% of the company's stock.

Prologis Stock Performance

PLD traded up $0.05 during trading hours on Thursday, reaching $112.73. The company's stock had a trading volume of 2,549,034 shares, compared to its average volume of 4,439,100. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company's 50-day moving average is $107.59 and its 200-day moving average is $108.70. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $104.64 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 2.79 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Company 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.