Sumitomo Mitsui Trust Group Inc. Has $464.41 Million Stake in Prologis, Inc. (NYSE:PLD)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,154,259 shares of the real estate investment trust's stock after acquiring an additional 33,407 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.45% of Prologis worth $464,405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PLD. BSW Wealth Partners grew its holdings in shares of Prologis by 28.5% in the 1st quarter. BSW Wealth Partners now owns 3,844 shares of the real estate investment trust's stock valued at $430,000 after buying an additional 853 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Prologis by 16.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 144,173 shares of the real estate investment trust's stock valued at $15,173,000 after buying an additional 20,127 shares during the period. Money Concepts Capital Corp grew its holdings in shares of Prologis by 10.4% in the 1st quarter. Money Concepts Capital Corp now owns 7,296 shares of the real estate investment trust's stock valued at $816,000 after buying an additional 685 shares during the period. Jaffetilchin Investment Partners LLC acquired a new position in shares of Prologis in the 1st quarter valued at $231,000. Finally, Hunter Perkins Capital Management LLC acquired a new stake in shares of Prologis during the first quarter worth $1,889,000. Institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

PLD stock traded up $1.19 during mid-day trading on Friday, hitting $105.58. 5,732,894 shares of the company were exchanged, compared to its average volume of 4,135,040. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The stock has a market capitalization of $97.97 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The business has a 50 day simple moving average of $106.21 and a 200-day simple moving average of $109.50. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. On average, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.83%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PLD shares. BMO Capital Markets cut their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Scotiabank upped their price objective on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Evercore ISI decreased their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Mizuho cut their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $120.42.

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.