Prologis, Inc. (NYSE:PLD) Stock Position Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 297,426 shares of the real estate investment trust's stock after acquiring an additional 6,350 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Prologis were worth $33,249,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLD. Aviva PLC boosted its stake in shares of Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after purchasing an additional 186,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after buying an additional 179,880 shares in the last quarter. Allstate Corp boosted its position in Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after buying an additional 39,321 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in Prologis by 1,451.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after buying an additional 29,170 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of Prologis by 3.1% during the first quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock valued at $615,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

PLD stock traded down $0.28 during mid-day trading on Friday, reaching $108.03. The company had a trading volume of 1,549,648 shares, compared to its average volume of 4,162,745. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $100.24 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.74 and a beta of 1.23. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The stock's 50-day simple moving average is $106.82 and its two-hundred day simple moving average is $109.39.

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

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is 101.00%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PLD shares. Morgan Stanley cut their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Scotiabank increased their target price on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Truist Financial cut their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Evercore ISI reduced their price objective on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company dropped their target price on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.42.

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.