Prologis, Inc. (NYSE:PLD) Position Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 719,774 shares of the real estate investment trust’s stock after selling 2,327 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Prologis were worth $80,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PLD. Gilbert & Cook Inc. raised its holdings in shares of Prologis by 4.4% during the fourth quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock worth $731,000 after acquiring an additional 233 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in Prologis by 61.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock valued at $692,000 after buying an additional 1,995 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Prologis by 1.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,220 shares of the real estate investment trust’s stock valued at $1,762,000 after buying an additional 145 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in Prologis by 17.1% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 10,017 shares of the real estate investment trust’s stock valued at $1,335,000 after buying an additional 1,461 shares in the last quarter. Finally, Alberta Investment Management Corp raised its holdings in Prologis by 17.2% during the fourth quarter. Alberta Investment Management Corp now owns 34,225 shares of the real estate investment trust’s stock valued at $4,562,000 after buying an additional 5,025 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent research reports. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. BMO Capital Markets restated a “market perform” rating and set a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Argus raised their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Stock Up 0.3 %

PLD stock opened at $125.59 on Friday. The company has a market cap of $116.28 billion, a PE ratio of 36.72, 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 twelve month low of $96.64 and a twelve month high of $137.52. The business’s 50-day simple moving average is $125.83 and its 200 day simple moving average is $118.37.

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

Prologis Dividend Announcement

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

Insiders Place Their Bets

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

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.