Prologis, Inc. (NYSE:PLD) Shares Sold by Axa S.A.

Axa S.A. cut its position in Prologis, Inc. (NYSE:PLD) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,469,907 shares of the real estate investment trust’s stock after selling 39,509 shares during the period. Axa S.A. owned 0.16% of Prologis worth $155,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Gallagher Fiduciary Advisors LLC grew its holdings in shares of Prologis by 9.0% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 2,296 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 189 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its stake in shares of Prologis by 10.8% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 19,952 shares of the real estate investment trust’s stock worth $2,109,000 after buying an additional 1,940 shares in the last quarter. DoubleLine ETF Adviser LP boosted its position in Prologis by 0.8% during the fourth quarter. DoubleLine ETF Adviser LP now owns 66,258 shares of the real estate investment trust’s stock worth $7,003,000 after acquiring an additional 540 shares during the last quarter. Wahed Invest LLC grew its stake in Prologis by 1.3% during the 4th quarter. Wahed Invest LLC now owns 22,736 shares of the real estate investment trust’s stock valued at $2,403,000 after acquiring an additional 291 shares in the last quarter. Finally, South Plains Financial Inc. acquired a new stake in Prologis in the 4th quarter valued at about $379,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Up 2.3 %

Shares of PLD opened at $105.49 on Friday. The company’s 50-day simple moving average is $107.68 and its 200-day simple moving average is $111.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The stock has a market capitalization of $97.79 billion, a PE ratio of 26.37, a P/E/G ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This is an increase 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 annualized dividend and a yield of 3.83%. Prologis’s dividend payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. CJS Securities dropped their price target on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Morgan Stanley cut their target price on Prologis to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Truist Financial boosted their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Finally, Mizuho decreased their target price on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $122.05.

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.