FUKOKU MUTUAL LIFE INSURANCE Co Sells 758 Shares of Prologis, Inc. $PLD

FUKOKU MUTUAL LIFE INSURANCE Co lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 16.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,777 shares of the real estate investment trust’s stock after selling 758 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Prologis were worth $397,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jump Financial LLC bought a new stake in shares of Prologis during the 1st quarter valued at about $2,120,000. Ally Financial Inc. grew its stake in shares of Prologis by 16.7% in the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after buying an additional 4,000 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of Prologis by 9.0% during the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock valued at $10,129,000 after acquiring an additional 7,518 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Prologis during the 1st quarter valued at about $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc increased its position in shares of Prologis by 14.3% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock valued at $7,579,000 after acquiring an additional 8,470 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 1.1%

Shares of PLD opened at $122.46 on Thursday. The stock has a market capitalization of $113.75 billion, a PE ratio of 35.70, a P/E/G ratio of 3.13 and a beta of 1.29. The company’s fifty day moving average is $119.81 and its 200 day moving average is $112.18. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $1.43 earnings per share. Prologis’s quarterly revenue 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 expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s payout ratio is presently 117.78%.

Insider Activity at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total transaction of $61,570.00. Following the transaction, the director directly owned 8,829 shares of the company’s stock, valued at $1,087,203.06. The trade was a 5.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,000 shares of company stock worth $3,013,665 over the last three months. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PLD shares. Evercore ISI boosted their target price on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research report on Thursday, October 16th. UBS Group set a $133.00 target price on Prologis in a report on Monday, November 10th. Wells Fargo & Company lifted their price target on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Scotiabank boosted their price objective on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Finally, BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price for the company in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.39.

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.