Westpac Banking Corp Cuts Position in Prologis, Inc. $PLD

Westpac Banking Corp trimmed its stake in Prologis, Inc. (NYSE:PLD) by 6.6% in the 1st quarter, HoldingsChannel reports. The fund owned 67,020 shares of the real estate investment trust’s stock after selling 4,774 shares during the quarter. Westpac Banking Corp’s holdings in Prologis were worth $8,859,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Prologis by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 123,323,290 shares of the real estate investment trust’s stock valued at $15,743,451,000 after purchasing an additional 1,258,407 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Prologis by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 23,012,940 shares of the real estate investment trust’s stock valued at $2,925,791,000 after buying an additional 339,906 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Prologis by 4.4% during the fourth quarter. Capital Research Global Investors now owns 16,061,390 shares of the real estate investment trust’s stock valued at $2,050,397,000 after buying an additional 678,363 shares during the last quarter. Norges Bank purchased a new stake in shares of Prologis during the fourth quarter valued at about $1,589,125,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Prologis by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,639,644 shares of the real estate investment trust’s stock valued at $1,485,917,000 after buying an additional 516,765 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of Prologis from $153.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Robert W. Baird increased their target price on shares of Prologis from $133.00 to $136.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Jefferies Financial Group lowered their target price on shares of Prologis from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Evercore set a $135.00 price target on shares of Prologis in a report on Friday, April 17th. Finally, BTIG Research upped their price target on Prologis from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $153.62.

Prologis Price Performance

Shares of NYSE PLD opened at $149.90 on Wednesday. Prologis, Inc. has a fifty-two week low of $103.41 and a fifty-two week high of $153.35. The company has a market cap of $139.75 billion, a PE ratio of 33.38 and a beta of 1.32. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.51 and a current ratio of 0.27. The business has a 50-day simple moving average of $143.32 and a two-hundred day simple moving average of $138.25.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.38. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.16 billion. Prologis had a net margin of 45.79% and a return on equity of 7.29%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. As a group, equities analysts expect that Prologis, Inc. will post 6.27 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 16th. Prologis’s payout ratio is currently 95.32%.

Insider Transactions at Prologis

In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.

Key Prologis News

Here are the key news stories impacting Prologis this week:

• Positive Sentiment: Barclays initiated/maintained a bullish stance on Prologis, and Truist Financial raised its price target to $162 from $154 while reiterating a buy rating, signaling confidence in further upside. Benzinga article
• Positive Sentiment: Articles highlighted strong warehouse leasing activity and momentum in Prologis’s core logistics real estate business, reinforcing the view that operating fundamentals remain solid. Article on warehouse leasing
• Positive Sentiment: Investor commentary and market coverage framed Prologis as a momentum and growth name, which can attract additional buyers in a strong trading session. Zacks article
• Neutral Sentiment: Prologis remained in the headlines for its attempt to acquire SEGRO, with Norges Bank saying the merger rationale deserves consideration, but the deal remains uncertain and has been repeatedly rejected. WSJ article
• Negative Sentiment: SEGRO rejected Prologis’s revised takeover proposal, underscoring execution risk and suggesting the acquisition may not happen, which can weigh on sentiment around the deal strategy. Reuters article

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.