Prologis, Inc. (NYSE:PLD) is APG Asset Management US Inc.’s Largest Position

APG Asset Management US Inc. cut its holdings in Prologis, Inc. (NYSE:PLD) by 0.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 19,711,375 shares of the real estate investment trust’s stock after selling 15,000 shares during the quarter. Prologis makes up about 12.6% of APG Asset Management US Inc.’s holdings, making the stock its largest holding. APG Asset Management US Inc.’s holdings in Prologis were worth $2,206,688,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Optimum Investment Advisors acquired a new position in shares of Prologis in the first quarter valued at about $26,000. American Capital Advisory LLC acquired a new position in shares of Prologis in the second quarter valued at about $26,000. True Wealth Design LLC acquired a new position in shares of Prologis in the fourth quarter valued at about $27,000. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the second quarter valued at about $27,000. Finally, Central Valley Advisors LLC acquired a new position in shares of Prologis in the second quarter valued at about $29,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

NYSE PLD opened at $125.45 on Thursday. The company has a market cap of $116.16 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. The stock’s 50 day simple moving average is $125.70 and its 200-day simple moving average is $118.45. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned $1.83 EPS. The business’s revenue was down 18.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.06%. Prologis’s payout ratio is 112.28%.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research reports. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Barclays raised their target price on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Argus raised their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.35.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.

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.