Sumitomo Mitsui Trust Group Inc. Sells 94,305 Shares of Prologis, Inc. $PLD

Key Points

• Sumitomo Mitsui Trust Group reduced its Prologis stake by 2.3% in the first quarter, selling 94,305 shares and ending with 3,946,552 shares valued at about $521.7 million.
• Other institutional investors continue to hold large positions in Prologis, with institutions owning 93.5% of the company. Recent activity included major buying by firms such as Norges Bank and significant increases from Cardano Risk Management and others.
• Analyst sentiment remains mostly positive despite mixed views on valuation: several firms raised price targets, and Prologis currently carries an average “Moderate Buy” rating with a consensus target price of $152.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,946,552 shares of the real estate investment trust's stock after selling 94,305 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.42% of Prologis worth $521,655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Prologis during the 4th quarter valued at $1,589,125,000. Cardano Risk Management B.V. raised its position in shares of Prologis by 999.3% during the fourth quarter. Cardano Risk Management B.V. now owns 11,228,730 shares of the real estate investment trust's stock worth $1,433,460,000 after purchasing an additional 10,207,267 shares during the period. Swedbank AB raised its holdings in Prologis by 36.2% during the 4th quarter. Swedbank AB now owns 7,664,583 shares of the real estate investment trust's stock worth $978,461,000 after buying an additional 2,038,329 shares during the period. Bessemer Group Inc. lifted its position in Prologis by 8,000.9% in the 4th quarter. Bessemer Group Inc. now owns 1,595,963 shares of the real estate investment trust's stock valued at $203,741,000 after acquiring an additional 1,576,262 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Prologis by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 123,323,290 shares of the real estate investment trust's stock worth $15,743,451,000 after purchasing an additional 1,258,407 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling

In related news, CFO Timothy D. Arndt sold 3,597 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PLD shares. Truist Financial boosted their price target on Prologis from $139.00 to $154.00 and gave the company a "buy" rating in a report on Friday, April 24th. Bank of America increased their price objective on Prologis from $153.00 to $162.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Raymond James Financial started coverage on Prologis in a research report on Thursday, June 18th. They issued a "market perform" rating on the stock. Finally, BMO Capital Markets cut their target price on Prologis from $162.00 to $158.00 and set an "outperform" rating on the stock in a research note on Monday, June 29th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $152.00.

Key Prologis News

Here are the key news stories impacting Prologis this week:

• Positive Sentiment: Prologis said it remains willing to engage with Segro and urged Segro shareholders to push for talks, keeping the acquisition possibility alive and supporting deal-related optimism. Prologis Pushes for Talks on $16.9 Billion Segro Bid
• Positive Sentiment: Coverage around the Segro bid and broader “REIT focus” has increased attention on Prologis’ growth strategy, which may help sentiment around the stock. Prologis NYSE: PLD Deal Buzz Sparks REIT Focus
• Neutral Sentiment: Analysts and market commentary continue to debate whether Prologis is fairly valued or fully valued, suggesting the stock may be reacting more to valuation concerns than to fresh operational news. Prologis (PLD) Stock Looks Fully Valued With Growth Already Priced In
• Neutral Sentiment: The company is also expected to report earnings soon, which is keeping investors focused on whether growth and guidance can justify the current valuation. Prologis (PLD) Expected to Post Earnings on Thursday
• Negative Sentiment: One analyst downgraded Segro to Hold, saying the takeover upside appears largely priced in and flagging execution and valuation risks, which could temper enthusiasm for Prologis’ bid strategy. Analyst Downgrades Segro to Hold as Prologis Bid Upside Appears Priced In, Highlighting Execution and Valuation Risks

Prologis Stock Down 1.8%

Shares of PLD stock opened at $140.98 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.60. Prologis, Inc. has a 1 year low of $103.41 and a 1 year high of $150.18. The firm's fifty day moving average price is $142.79 and its two-hundred day moving average price is $137.18. The firm has a market capitalization of $131.44 billion, a P/E ratio of 35.51 and a beta of 1.32.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The real estate investment trust reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.24. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.12 billion. Prologis had a net margin of 41.54% and a return on equity of 6.47%. The company's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 EPS. Prologis has set its FY 2026 guidance at 6.070-6.230 EPS. On average, equities analysts predict that Prologis, Inc. will post 6.17 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, June 16th. Prologis's dividend payout ratio is presently 107.81%.

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.

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