Prologis, Inc. (NYSE:PLD) Stake Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its stake in Prologis, Inc. (NYSE:PLD) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,261,892 shares of the real estate investment trust’s stock after selling 239,521 shares during the period. Massachusetts Financial Services Co. MA owned 1.76% of Prologis worth $2,053,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. ASB Consultores LLC boosted its holdings in shares of Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares during the period. Arbor Capital Management Inc. ADV grew its position in Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares during the last quarter. CX Institutional increased its stake in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares during the period. Mitchell Sinkler & Starr PA raised its holdings in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 90 shares during the last quarter. Finally, Destination Wealth Management grew its holdings in Prologis by 4.7% in the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of several recent analyst reports. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley lifted their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Truist Financial increased their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, Evercore ISI upped their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.18.

Prologis Stock Down 0.5 %

Shares of Prologis stock opened at $114.54 on Thursday. The stock’s fifty day moving average is $120.36 and its 200-day moving average is $118.27. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $106.08 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 3.35%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 28.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

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.