Prologis, Inc. (NYSE:PLD) Shares Sold by AIA Group Ltd

AIA Group Ltd decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,841 shares of the real estate investment trust’s stock after selling 45,008 shares during the quarter. Prologis accounts for approximately 1.3% of AIA Group Ltd’s portfolio, making the stock its 19th largest holding. AIA Group Ltd’s holdings in Prologis were worth $30,638,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after purchasing an additional 1,034,211 shares during the period. FMR LLC grew its stake in Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after acquiring an additional 197,693 shares during the period. Morgan Stanley grew its stake in Prologis by 48.0% in the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after acquiring an additional 4,729,040 shares during the period. Northern Trust Corp grew its stake in Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after acquiring an additional 92,036 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Prologis by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after acquiring an additional 268,667 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLD. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Mizuho reissued a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. Robert W. Baird lifted their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 23rd. UBS Group lowered their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Raymond James lifted their target price on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Prologis Trading Down 1.9 %

Shares of NYSE PLD traded down $2.06 during trading on Thursday, hitting $104.43. 4,160,962 shares of the company were exchanged, compared to its average volume of 3,365,360. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The company has a fifty day moving average price of $128.99 and a 200-day moving average price of $122.19. The firm has a market capitalization of $96.60 billion, a PE ratio of 31.56, a P/E/G ratio of 2.29 and a beta of 1.00.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. As a group, equities research analysts expect that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is 116.72%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.