AIA Group Ltd Buys 20,483 Shares of Prologis, Inc. (NYSE:PLD)

AIA Group Ltd grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 414,982 shares of the real estate investment trust’s stock after acquiring an additional 20,483 shares during the quarter. Prologis comprises approximately 1.4% of AIA Group Ltd’s portfolio, making the stock its 13th biggest position. AIA Group Ltd’s holdings in Prologis were worth $52,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PLD. American Capital Advisory LLC bought a new stake in Prologis in the 2nd quarter worth about $26,000. Semmax Financial Advisors Inc. bought a new stake in Prologis in the 2nd quarter worth about $27,000. Central Valley Advisors LLC bought a new stake in Prologis in the 2nd quarter worth about $29,000. Sunbelt Securities Inc. increased its holdings in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in Prologis in the 2nd quarter worth about $31,000. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on PLD shares. Scotiabank reduced their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Bank of America reiterated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Barclays dropped their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Up 0.4 %

Shares of PLD opened at $114.22 on Friday. The business’s 50 day moving average is $123.15 and its 200 day moving average is $117.52. The company has a market capitalization of $105.79 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.30 EPS. Research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The stock was 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.56% of the stock is owned by corporate insiders.

About Prologis

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.