Resona Asset Management Co. Ltd. Cuts Stake in Prologis, Inc. $PLD

Resona Asset Management Co. Ltd. reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 537,113 shares of the real estate investment trust’s stock after selling 30,220 shares during the quarter. Resona Asset Management Co. Ltd. owned about 0.06% of Prologis worth $56,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PLD. Activest Wealth Management grew its holdings in Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares in the last quarter. Pandora Wealth Inc. purchased a new stake in Prologis during the 1st quarter valued at approximately $34,000. GKV Capital Management Co. Inc. purchased a new stake in Prologis during the 1st quarter valued at approximately $34,000. Saudi Central Bank bought a new position in shares of Prologis during the 1st quarter valued at approximately $41,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Prologis by 63.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 152 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total transaction of $61,570.00. Following the completion of the sale, the director directly owned 8,829 shares in the company, valued at approximately $1,087,203.06. This trade represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 27,000 shares of company stock valued at $3,013,665. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of a number of research reports. Barclays lowered their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Citigroup lowered their target price on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Industrial Alliance Securities set a $119.00 target price on Prologis in a research report on Monday, October 20th. Mizuho set a $118.00 target price on Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Finally, Scotiabank set a $114.00 target price on Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $124.56.

Prologis Stock Down 0.1%

Shares of PLD opened at $123.82 on Thursday. The company has a market cap of $115.01 billion, a PE ratio of 36.10, a P/E/G ratio of 3.13 and a beta of 1.28. The business has a fifty day moving average of $117.48 and a 200 day moving average of $110.65. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.Prologis’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.3%. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

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.