Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in Prologis, Inc. $PLD

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Prologis, Inc. by 5.0% during the second quarter, holding 312,321 shares valued at approximately $32.83 million.
• Prologis announced a quarterly dividend of $1.01 per share, representing an annualized dividend of $4.04 and a yield of 3.5%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Prologis with a price target of $122.58, reflecting optimism about the company's growth prospects.

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 312,321 shares of the real estate investment trust's stock after purchasing an additional 14,895 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Prologis were worth $32,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Activest Wealth Management raised its holdings in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 223 shares in the last quarter. REAP Financial Group LLC boosted its position in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the last quarter. Pandora Wealth Inc. purchased a new position in Prologis in the first quarter worth about $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis in the first quarter worth about $34,000. Finally, Saudi Central Bank bought a new position in shares of Prologis in the first quarter worth about $41,000. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

PLD has been the topic of several recent research reports. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Scotiabank set a $114.00 price objective on shares of Prologis and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. 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. UBS Group boosted their price objective on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Evercore ISI upped their target price on Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.58.

Insider Activity at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred 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 sale, the director owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the 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 of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Prologis Price Performance

PLD stock traded down $1.69 during mid-day trading on Friday, reaching $113.47. 8,647,790 shares of the company's stock were exchanged, compared to its average volume of 3,170,153. The company has a market cap of $105.33 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 2.87 and a beta of 1.26. The stock's 50 day moving average is $109.85 and its 200 day moving average is $107.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.93.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.Prologis'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 posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is 109.49%.

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.