Sompo Asset Management Co. Ltd. Has $1.19 Million Holdings in Prologis, Inc. (NYSE:PLD)

Sompo Asset Management Co. Ltd. lessened its position in Prologis, Inc. (NYSE:PLD) by 5.0% in the 3rd quarter, Holdings Channel reports. The firm owned 9,440 shares of the real estate investment trust’s stock after selling 500 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Prologis were worth $1,192,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PLD. American Capital Advisory LLC acquired a new position in Prologis in the 2nd quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the second quarter worth about $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis during the second quarter worth about $29,000. Sunbelt Securities Inc. raised its position in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in Prologis in the 2nd quarter valued at approximately $31,000. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.6 %

Shares of Prologis stock opened at $115.80 on Friday. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The stock has a market cap of $107.25 billion, a PE ratio of 34.98, a PEG ratio of 3.00 and a beta of 1.08. The firm has a 50-day moving average of $119.75 and a 200-day moving average of $118.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the firm earned $1.30 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.32%. Prologis’s dividend payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

PLD has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Morgan Stanley lifted their price target 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 restated a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $131.25.

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.