Prologis, Inc. $PLD Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its stake in Prologis, Inc. by 5.7%, now holding 70,033 shares valued at $7.83 million as of the latest quarter.
• In the 1st quarter, several hedge funds made significant changes to their positions in Prologis, with Nuveen LLC purchasing a new stake worth approximately $1.46 billion.
• Prologis recently declared a quarterly dividend of $1.01 per share, leading to an annualized dividend yield of 3.6%.

Meiji Yasuda Asset Management Co Ltd. reduced its position in Prologis, Inc. (NYSE:PLD - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,033 shares of the real estate investment trust's stock after selling 4,223 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Prologis were worth $7,829,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Alley Investment Management Company LLC lifted its position in shares of Prologis by 102.8% in 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 buying an additional 54,914 shares in the last quarter. Jump Financial LLC bought a new stake in Prologis during the first quarter worth approximately $2,120,000. First Citizens Bank & Trust Co. increased its stake in Prologis by 1,451.2% during the first 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 increased its stake in Prologis by 9.3% during the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after acquiring an additional 25,229 shares during the last quarter. Finally, Ally Financial Inc. increased its stake in Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock worth $3,130,000 after acquiring an additional 4,000 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Up 0.6%

NYSE PLD traded up $0.66 during midday trading on Friday, hitting $115.48. 3,363,726 shares of the company traded hands, compared to its average volume of 4,381,011. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $107.20 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 2.78 and a beta of 1.26. The company's 50-day simple moving average is $109.03 and its 200-day simple moving average is $108.10. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.39.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion for 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 business's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is 109.49%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLD. UBS Group boosted their price objective on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Citigroup reduced their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Mizuho set a $118.00 price objective on Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Finally, Scotiabank set a $114.00 price target on Prologis and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.83.

Insiders Place Their Bets

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was 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 $46,090.62. This trade represents a 98.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm's 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 sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

Prologis Company 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.