Westpac Banking Corp Trims Stake in Prologis, Inc. $PLD

Westpac Banking Corp decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,588 shares of the real estate investment trust’s stock after selling 4,173 shares during the period. Westpac Banking Corp’s holdings in Prologis were worth $8,198,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Prologis by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 122,064,883 shares of the real estate investment trust’s stock worth $13,978,870,000 after purchasing an additional 323,551 shares in the last quarter. State Street Corp boosted its stake in shares of Prologis by 1.9% during the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after purchasing an additional 1,088,544 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Prologis by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock worth $2,345,922,000 after purchasing an additional 310,333 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Prologis by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock worth $1,735,205,000 after buying an additional 253,338 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Prologis in the second quarter valued at approximately $1,288,936,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

NYSE:PLD opened at $140.13 on Thursday. The firm’s fifty day simple moving average is $132.29 and its 200 day simple moving average is $123.80. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $142.40. The firm has a market capitalization of $130.26 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 3.47 and a beta of 1.42.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, January 21st. The real estate investment trust reported $1.44 EPS for the quarter, meeting the consensus estimate of $1.44. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.09 billion. Prologis had a return on equity of 5.79% and a net margin of 37.86%.The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $1.42 earnings per share. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $1.07 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $4.28 dividend on an annualized basis and a yield of 3.1%. This is a boost from Prologis’s previous quarterly dividend of $1.01. Prologis’s dividend payout ratio (DPR) is currently 113.80%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PLD shares. UBS Group raised their target price on shares of Prologis from $144.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. The Goldman Sachs Group lifted their price objective on Prologis from $137.00 to $148.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Mizuho upped their target price on Prologis from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Jefferies Financial Group raised their price target on Prologis from $146.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Morgan Stanley set a $135.00 price objective on shares of Prologis in a research note on Friday, January 16th. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.95.

Insider Transactions at Prologis

In other news, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the transaction, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

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.