Sumitomo Mitsui Trust Group Inc. Buys 72,072 Shares of Prologis, Inc. $PLD

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Prologis, Inc. by 1.7%, acquiring an additional 72,072 shares, bringing total ownership to approximately $444 million.
• Prologis reported $1.49 earnings per share for the last quarter, surpassing analysts' expectations, and set its FY 2025 EPS guidance between 5.780-5.810.
• The company announced a quarterly dividend of $1.01 per share, reflecting a 3.2% yield, and has a dividend payout ratio of 117.78%.

Sumitomo Mitsui Trust Group Inc. grew its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,226,331 shares of the real estate investment trust's stock after purchasing an additional 72,072 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.46% of Prologis worth $444,272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock worth $13,564,533,000 after buying an additional 869,310 shares during the period. Nuveen LLC bought a new stake in shares of Prologis in the first quarter worth approximately $1,456,768,000. Charles Schwab Investment Management Inc. lifted its position in Prologis by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock valued at $1,173,340,000 after purchasing an additional 93,201 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Prologis by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock worth $1,113,994,000 after purchasing an additional 1,146,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Prologis by 7.0% in the first quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust's stock worth $870,871,000 after purchasing an additional 507,367 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the sale, the director directly owned 9,329 shares of the company's stock, valued at $1,079,272.01. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $2,952,095 over the last three months. Insiders own 0.57% of the company's stock.

Prologis Price Performance

Prologis stock opened at $127.01 on Friday. The business has a 50 day simple moving average of $114.80 and a 200 day simple moving average of $108.74. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.50. The company has a market capitalization of $117.95 billion, a PE ratio of 37.01, a price-to-earnings-growth ratio of 3.19 and a beta of 1.28. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.20 and a quick ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the firm posted $1.43 EPS. The business's revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is 117.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLD. Truist Financial reiterated a "buy" rating and issued a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research note on Monday. Evercore ISI increased their price objective on shares of Prologis from $113.00 to $116.00 and gave the stock an "in-line" rating in a research note on Thursday, October 16th. 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Prologis in a research note on Wednesday, October 8th. Finally, Citigroup lowered their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $124.44.

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.

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