Sumitomo Mitsui Trust Group Inc. Reduces Position in Prologis, Inc. $PLD

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Prologis, Inc. (NYSE:PLD) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,215,857 shares of the real estate investment trust’s stock after selling 10,474 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Prologis were worth $482,800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PLD. Ignite Planners LLC raised its stake in shares of Prologis by 3.2% in the third quarter. Ignite Planners LLC now owns 2,937 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 92 shares during the period. ORG Partners LLC increased its holdings in Prologis by 3.3% in the 3rd quarter. ORG Partners LLC now owns 2,867 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 92 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in Prologis by 0.7% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock worth $1,438,000 after acquiring an additional 93 shares during the period. Stableford Capital II LLC lifted its holdings in Prologis by 0.4% during the third quarter. Stableford Capital II LLC now owns 21,090 shares of the real estate investment trust’s stock valued at $2,415,000 after purchasing an additional 94 shares in the last quarter. Finally, Palogic Value Management L.P. boosted its position in shares of Prologis by 4.7% in the second quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 96 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Up 0.7%

Shares of PLD opened at $129.35 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $120.15 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 3.80 and a beta of 1.40. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $131.70. The business’s 50 day simple moving average is $127.16 and its 200-day simple moving average is $117.67.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company had revenue of $2.21 billion for the quarter. As a group, equities analysts expect 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 was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.1%. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insider Activity

In other Prologis news, Director James B. Connor sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares of the company’s stock, valued at $1,047,340.80. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 81,121 shares of company stock valued at $10,267,210. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on PLD shares. BTIG Research raised their price objective on shares of Prologis from $134.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 31st. Wells Fargo & Company boosted their price objective on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Prologis in a research report on Monday, December 29th. Scotiabank lifted their target price on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Finally, BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $129.18.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.