Prologis, Inc. (NYSE:PLD) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its stake in Prologis, Inc. (NYSE:PLD) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,973,135 shares of the real estate investment trust’s stock after selling 471,222 shares during the quarter. Legal & General Group Plc’s holdings in Prologis were worth $1,457,014,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC increased its stake in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares during the last quarter. Capital World Investors grew its holdings in shares of Prologis by 1,252.9% in the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after purchasing an additional 6,765,582 shares during the period. Swedbank AB acquired a new stake in Prologis during the first quarter worth about $596,614,000. Alphinity Investment Management Pty Ltd purchased a new position in Prologis during the first quarter worth about $465,659,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Prologis in the 2nd quarter valued at about $203,223,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $125.24 on Friday. The company’s 50 day moving average is $125.79 and its two-hundred day moving average is $118.54. The firm has a market cap of $115.96 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) 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 company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business posted $1.83 earnings per share. The firm’s revenue was down 18.1% on a year-over-year basis. On average, research analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

PLD has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Scotiabank increased their price target on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.35.

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.