PGGM Investments Has $201.37 Million Stock Holdings in Prologis, Inc. $PLD

Key Points

• PGGM Investments has reduced its holdings in Prologis, Inc. by 4.0%, now owning approximately $201.37 million worth of shares, making it the fourth largest holding in their portfolio.
• Prologis reported earnings of $1.46 per share for the last quarter, surpassing expectations, and recorded an annual revenue increase of 8.8% compared to the previous year.
• The company's quarterly dividend was recently issued at $1.01 per share, resulting in an annual payout yield of 3.5%, although the payout ratio has reached 109.49%.

PGGM Investments lessened its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,915,592 shares of the real estate investment trust's stock after selling 79,257 shares during the quarter. Prologis accounts for approximately 3.5% of PGGM Investments' investment portfolio, making the stock its 4th biggest holding. PGGM Investments owned 0.21% of Prologis worth $201,367,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PLD. Alley Investment Management Company LLC raised its position in Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after acquiring an additional 54,914 shares in the last quarter. Jump Financial LLC acquired a new stake in Prologis in the first quarter valued at $2,120,000. First Citizens Bank & Trust Co. lifted its stake in Prologis by 1,451.2% in the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after acquiring an additional 29,170 shares during the last quarter. Truist Financial Corp lifted its stake in Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after acquiring an additional 25,229 shares during the last quarter. Finally, Ally Financial Inc. lifted its stake in Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock valued at $3,130,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

NYSE:PLD opened at $114.50 on Wednesday. The stock has a market cap of $106.29 billion, a P/E ratio of 31.03, a PEG ratio of 2.89 and a beta of 1.26. The stock has a 50 day simple moving average of $110.64 and a 200 day simple moving average of $107.52. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion during 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 company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis's payout ratio is currently 109.49%.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares of the company's stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction 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 transaction, the chief accounting officer directly owned 414 shares of the company's stock, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on PLD shares. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. UBS Group lifted their target price on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Scotiabank set a $114.00 target price on Prologis and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Finally, Mizuho set a $118.00 target price on Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $122.58.

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.

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