Prologis, Inc. $PLD Shares Sold by Generate Investment Management Ltd

Key Points

• Generate Investment Management Ltd reduced its Prologis stake by 33.9% in the first quarter, selling 53,332 shares and leaving it with 104,148 shares valued at about $13.77 million.
• Prologis reported better-than-expected first-quarter results, with EPS of $1.05 versus the $0.81 consensus and revenue of $2.30 billion, up 6.9% year over year.
• The company declared a quarterly dividend of $1.07 per share, equivalent to an annualized $4.28 and a 3.0% yield, while analysts currently hold a consensus rating of Moderate Buy with a $151.48 price target.

Generate Investment Management Ltd cut its position in Prologis, Inc. (NYSE:PLD - Free Report) by 33.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,148 shares of the real estate investment trust's stock after selling 53,332 shares during the quarter. Generate Investment Management Ltd's holdings in Prologis were worth $13,766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Prologis by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 123,323,290 shares of the real estate investment trust's stock valued at $15,743,451,000 after buying an additional 1,258,407 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Prologis by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 23,012,940 shares of the real estate investment trust's stock worth $2,925,791,000 after buying an additional 339,906 shares during the period. Capital Research Global Investors grew its holdings in Prologis by 4.4% in the 4th quarter. Capital Research Global Investors now owns 16,061,390 shares of the real estate investment trust's stock worth $2,050,397,000 after buying an additional 678,363 shares in the last quarter. Norges Bank bought a new position in Prologis in the 4th quarter worth approximately $1,589,125,000. Finally, Charles Schwab Investment Management Inc. increased its position in Prologis by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,639,644 shares of the real estate investment trust's stock valued at $1,485,917,000 after acquiring an additional 516,765 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

NYSE PLD opened at $143.66 on Tuesday. Prologis, Inc. has a 12 month low of $103.41 and a 12 month high of $150.18. The firm has a market capitalization of $133.94 billion, a PE ratio of 36.19, a P/E/G ratio of 3.05 and a beta of 1.32. The company's 50 day simple moving average is $143.02 and its 200 day simple moving average is $136.21. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.51.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.24. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.12 billion. Prologis had a return on equity of 6.47% and a net margin of 41.54%.The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 earnings per share. Prologis has set its FY 2026 guidance at 6.070-6.230 EPS. As a group, equities research analysts forecast that Prologis, Inc. will post 6.18 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 16th. Prologis's payout ratio is currently 107.81%.

Insider Buying and Selling at Prologis

In other news, CFO Timothy D. Arndt sold 3,597 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLD. Wall Street Zen raised Prologis from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Scotiabank cut Prologis from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $154.00 to $146.00 in a research note on Thursday. Raymond James Financial assumed coverage on Prologis in a report on Thursday, June 18th. They set a "market perform" rating on the stock. Evercore set a $135.00 price objective on shares of Prologis in a research note on Friday, April 17th. Finally, Citigroup upped their price objective on shares of Prologis from $145.00 to $165.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.48.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.