Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 2.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,946,552 shares of the real estate investment trust’s stock after selling 94,305 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Prologis were worth $521,655,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after purchasing an additional 15,078 shares in the last quarter. Schnieders Capital Management LLC. grew its position in Prologis by 45.4% during the second quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust’s stock worth $1,128,000 after buying an additional 3,350 shares in the last quarter. Walleye Capital LLC acquired a new stake in Prologis during the second quarter worth approximately $422,000. NewEdge Advisors LLC increased its stake in Prologis by 6.8% during the 2nd quarter. NewEdge Advisors LLC now owns 63,829 shares of the real estate investment trust’s stock worth $6,710,000 after acquiring an additional 4,074 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in Prologis by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 433,312 shares of the real estate investment trust’s stock worth $45,550,000 after acquiring an additional 10,266 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently weighed in on PLD. Argus upped their target price on Prologis from $135.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Citigroup raised their target price on shares of Prologis from $145.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Jefferies Financial Group lowered their target price on Prologis from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $157.00 price objective on shares of Prologis in a report on Friday, April 17th. Finally, Mizuho boosted their target price on shares of Prologis from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $152.00.
Trending Headlines about Prologis
Here are the key news stories impacting Prologis this week:
- Positive Sentiment: Prologis said it remains willing to engage with Segro and urged Segro shareholders to push for talks, keeping the acquisition possibility alive and supporting deal-related optimism. Prologis Pushes for Talks on $16.9 Billion Segro Bid
- Positive Sentiment: Coverage around the Segro bid and broader “REIT focus” has increased attention on Prologis’ growth strategy, which may help sentiment around the stock. Prologis (NYSE:PLD) Deal Buzz Sparks REIT Focus
- Neutral Sentiment: Analysts and market commentary continue to debate whether Prologis is fairly valued or fully valued, suggesting the stock may be reacting more to valuation concerns than to fresh operational news. Prologis (PLD) Stock Looks Fully Valued With Growth Already Priced In
- Neutral Sentiment: The company is also expected to report earnings soon, which is keeping investors focused on whether growth and guidance can justify the current valuation. Prologis (PLD) Expected to Post Earnings on Thursday
- Negative Sentiment: One analyst downgraded Segro to Hold, saying the takeover upside appears largely priced in and flagging execution and valuation risks, which could temper enthusiasm for Prologis’ bid strategy. Analyst Downgrades Segro to Hold as Prologis Bid Upside Appears Priced In, Highlighting Execution and Valuation Risks
Insider Transactions at Prologis
In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.
Prologis Stock Down 1.8%
Prologis stock opened at $140.98 on Thursday. The company has a market capitalization of $131.44 billion, a PE ratio of 35.51 and a beta of 1.32. Prologis, Inc. has a 12-month low of $103.41 and a 12-month high of $150.18. The firm’s fifty day moving average is $142.79 and its 200 day moving average is $137.18. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.60.
Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.24. Prologis had a return on equity of 6.47% and a net margin of 41.54%.The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the company earned $1.43 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.070-6.230 EPS. As a group, sell-side analysts predict that Prologis, Inc. will post 6.17 EPS for the current fiscal year.
Prologis Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, June 16th. Prologis’s dividend payout ratio (DPR) is currently 107.81%.
Prologis Profile
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.
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