Prologis, Inc. (NYSE:PLD) Stake Trimmed by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,557,603 shares of the real estate investment trust’s stock after selling 103,204 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.49% of Prologis worth $593,491,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PLD. Optimum Investment Advisors purchased a new stake in shares of Prologis in the 1st quarter valued at approximately $26,000. True Wealth Design LLC acquired a new stake in Prologis during the 4th quarter valued at $27,000. Thompson Investment Management Inc. purchased a new stake in shares of Prologis in the fourth quarter valued at $28,000. JFS Wealth Advisors LLC boosted its position in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares during the period. Finally, Clear Investment Research LLC boosted its position in shares of Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 0.7 %

Shares of NYSE PLD traded up $0.82 during mid-day trading on Wednesday, reaching $114.03. 432,399 shares of the company traded hands, compared to its average volume of 3,722,182. The company’s fifty day moving average is $108.29 and its two-hundred day moving average is $121.60. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $105.57 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 2.50 and a beta of 1.06.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio is 112.28%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Mizuho decreased their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. UBS Group cut their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average target price of $129.76.

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.