Prologis, Inc. (NYSE:PLD) Shares Sold by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co trimmed its position in Prologis, Inc. (NYSE:PLD) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,012 shares of the real estate investment trust’s stock after selling 806 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Prologis were worth $2,023,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wealth Alliance boosted its holdings in Prologis by 4.8% in the 2nd quarter. Wealth Alliance now owns 11,888 shares of the real estate investment trust’s stock worth $1,335,000 after buying an additional 541 shares during the last quarter. L & S Advisors Inc boosted its holdings in Prologis by 7.5% in the 2nd quarter. L & S Advisors Inc now owns 19,605 shares of the real estate investment trust’s stock worth $2,202,000 after buying an additional 1,365 shares during the last quarter. Perennial Investment Advisors LLC boosted its holdings in Prologis by 21.4% in the 2nd quarter. Perennial Investment Advisors LLC now owns 2,250 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 396 shares during the last quarter. Alpha Financial Partners LLC acquired a new stake in Prologis in the 2nd quarter worth about $262,000. Finally, Edgestream Partners L.P. acquired a new stake in Prologis in the 2nd quarter worth about $241,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Down 0.3 %

Shares of NYSE PLD opened at $128.91 on Wednesday. The firm has a market cap of $119.35 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 3.36 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The business’s 50 day moving average is $125.00 and its two-hundred day moving average is $118.68.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.83 EPS. Research analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is 112.28%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday. Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group boosted their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Finally, StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $133.35.

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.