Voya Investment Management LLC Reduces Position in Prologis, Inc. $PLD

Key Points

• Voya Investment Management LLC reduced its holdings in Prologis, Inc. by 0.9%, selling 3,405 shares, leaving it with 377,659 shares valued at approximately $42.2 million.
• Other institutional investors significantly increased their positions in Prologis, with Alley Investment Management boosting holdings by 102.8% and First Citizens Bank & Trust Co. growing theirs by 1,451.2% during the first quarter.
• Prologis announced a quarterly dividend of $1.01 per share, representing an annualized yield of 3.5%, despite a payout ratio exceeding 109%.

Voya Investment Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 377,659 shares of the real estate investment trust's stock after selling 3,405 shares during the period. Voya Investment Management LLC's holdings in Prologis were worth $42,218,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alley Investment Management Company LLC grew 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 valued at $12,111,000 after purchasing an additional 54,914 shares during the period. Jump Financial LLC purchased a new stake in shares of Prologis in the first quarter valued at $2,120,000. First Citizens Bank & Trust Co. grew its position in shares of Prologis by 1,451.2% in the first 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 purchasing an additional 29,170 shares during the period. Truist Financial Corp grew its position in shares of Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after purchasing an additional 25,229 shares during the period. Finally, Ally Financial Inc. boosted its holdings in Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock valued at $3,130,000 after acquiring an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Trading Up 0.6%

NYSE:PLD opened at $115.48 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.39. The business's 50-day simple moving average is $109.18 and its 200 day simple moving average is $107.95. The stock has a market cap of $107.20 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $1.34 earnings per share. The company's revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. Prologis's payout ratio is 109.49%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLD. UBS Group lifted their target price on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Citigroup reduced their target price on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company set a $137.00 target price on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Scotiabank set a $114.00 target price on Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $121.83.

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction dated 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 $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were 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 approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

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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