MetLife Investment Management LLC Buys 3,468 Shares of Prologis, Inc. (NYSE:PLD)

MetLife Investment Management LLC increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,299 shares of the real estate investment trust's stock after acquiring an additional 3,468 shares during the period. MetLife Investment Management LLC's holdings in Prologis were worth $28,782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empirical Asset Management LLC grew its holdings in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock worth $7,249,000 after buying an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. lifted its holdings in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock worth $94,391,000 after purchasing an additional 25,266 shares during the period. Aviva PLC increased its stake in Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after buying an additional 186,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after acquiring an additional 179,880 shares in the last quarter. Finally, Allstate Corp raised its holdings in Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock worth $7,877,000 after purchasing an additional 39,321 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company's stock.

Prologis Stock Down 0.5 %

NYSE:PLD traded down $0.54 during trading hours on Friday, reaching $102.82. The company's stock had a trading volume of 1,214,675 shares, compared to its average volume of 4,140,507. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company has a market cap of $95.31 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The business's 50-day moving average is $109.86 and its 200-day moving average is $112.68.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a positive change from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.93%. Prologis's payout ratio is currently 101.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Raymond James reiterated a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. CJS Securities decreased their target price on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Finally, BTIG Research reduced their price target on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.32.

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.