The Manufacturers Life Insurance Company Has $75.15 Million Stock Holdings in Prologis, Inc. $PLD

Key Points

• The Manufacturers Life Insurance Company increased its holdings in Prologis, Inc. by 1.6%, acquiring an additional 10,758 shares, bringing their total to 672,278 shares worth $75,154,000.
• Prologis announced a quarterly dividend of $1.01 per share, with a payout ratio of 109.49%, to be paid on September 30th to stockholders recorded on September 16th.
• Institutional investors own approximately 93.50% of Prologis shares, highlighting strong institutional interest in the company.

The Manufacturers Life Insurance Company boosted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 672,278 shares of the real estate investment trust's stock after acquiring an additional 10,758 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Prologis worth $75,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alley Investment Management Company LLC raised its holdings in shares of Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock valued at $12,111,000 after acquiring an additional 54,914 shares in the last quarter. Jump Financial LLC purchased a new stake in Prologis during the 1st quarter valued at about $2,120,000. First Citizens Bank & Trust Co. grew its position in Prologis by 1,451.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after acquiring an additional 29,170 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after purchasing an additional 25,229 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Prologis by 2.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock worth $33,249,000 after buying an additional 6,350 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Up 0.6%

Shares of NYSE:PLD traded up $0.71 during trading on Friday, reaching $113.32. The stock had a trading volume of 732,540 shares, compared to its average volume of 4,383,322. The company has a market capitalization of $105.19 billion, a P/E ratio of 30.71, a PEG ratio of 2.78 and a beta of 1.26. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm's 50-day simple moving average is $108.40 and its 200 day simple moving average is $108.37.

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

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 16th. Prologis's payout ratio is 109.49%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PLD shares. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. UBS Group raised 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. Citigroup cut 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. Scotiabank set a $114.00 price target on Prologis and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Finally, Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Prologis currently has an average rating of "Moderate Buy" and a consensus target price of $121.83.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the sale, the director directly owned 9,829 shares of the company's stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction dated 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 owned 414 shares of the company's stock, valued at approximately $46,090.62. This trade 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 insiders.

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.