Prologis, Inc. $PLD Stock Position Decreased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd cut its position in shares of Prologis, Inc. (NYSE:PLD) by 27.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,845 shares of the real estate investment trust’s stock after selling 43,630 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Prologis were worth $12,388,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PLD. Activest Wealth Management increased its holdings in shares of Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the last quarter. Pandora Wealth Inc. acquired a new position in shares of Prologis during the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of Prologis during the 1st quarter valued at about $34,000. Saudi Central Bank acquired a new position in shares of Prologis during the 1st quarter valued at about $41,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Prologis during the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $126.60 on Monday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.50. The firm has a market capitalization of $117.57 billion, a PE ratio of 36.91, a PEG ratio of 3.20 and a beta of 1.28. The business’s 50 day moving average is $115.20 and its 200-day moving average is $109.21. The company has a current ratio of 0.20, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned $1.43 EPS. Prologis’s revenue for the quarter was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. 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 presently 117.78%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of analyst reports. Barclays lowered their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Mizuho set a $118.00 price objective on Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and raised their target price for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. 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. Finally, Scotiabank set a $114.00 target price on Prologis and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.44.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 in the last three months. 0.57% of the stock is owned by insiders.

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.