OMERS ADMINISTRATION Corp Sells 5,345 Shares of Prologis, Inc. $PLD

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Prologis, Inc. by 0.5% during the first quarter, now holding 1,128,211 shares valued at approximately $126.12 million.
• Prologis reported an earnings per share (EPS) of $1.46 for its latest quarter, surpassing the consensus estimate and reflecting an 8.8% year-over-year revenue increase.
• Prologis has an average analyst rating of "Moderate Buy" with a consensus price target of $121.83, amidst varied ratings from different equities analysts.

OMERS ADMINISTRATION Corp cut its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,128,211 shares of the real estate investment trust's stock after selling 5,345 shares during the period. OMERS ADMINISTRATION Corp owned about 0.12% of Prologis worth $126,123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after acquiring an additional 869,310 shares in the last quarter. Nuveen LLC purchased a new position in shares of Prologis in the first quarter valued at about $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prologis by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust's stock valued at $1,125,586,000 after acquiring an additional 505,318 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Prologis by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock valued at $1,173,340,000 after acquiring an additional 93,201 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Prologis by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock valued at $1,113,994,000 after acquiring an additional 1,146,454 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLD has been the topic of several research analyst reports. Mizuho set a $118.00 price objective on Prologis and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Citigroup lowered their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Robert W. Baird decreased their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Scotiabank set a $114.00 target price on Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Finally, Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $121.83.

Insiders Place Their Bets

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction that occurred 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 $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is owned by insiders.

Prologis Trading Up 1.1%

NYSE PLD traded up $1.29 during trading hours on Monday, hitting $113.93. 2,827,596 shares of the company were exchanged, compared to its average volume of 3,019,988. The stock has a 50-day moving average price of $107.91 and a 200 day moving average price of $108.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The stock has a market cap of $105.76 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis's payout ratio is currently 109.49%.

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.