Prologis, Inc. $PLD Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its holdings in Prologis, Inc. (NYSE:PLD) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 16,506,899 shares of the real estate investment trust’s stock after purchasing an additional 253,338 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Prologis were worth $1,735,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jump Financial LLC bought a new position in shares of Prologis in the first quarter valued at approximately $2,120,000. Ally Financial Inc. grew its holdings in Prologis by 16.7% in the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after buying an additional 4,000 shares during the last quarter. Inspire Investing LLC increased its position in Prologis by 9.0% in the 1st quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after buying an additional 7,518 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of Prologis during the first quarter worth approximately $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in Prologis by 14.3% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock valued at $7,579,000 after purchasing an additional 8,470 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Prologis stock opened at $122.71 on Friday. The business’s fifty day moving average is $119.14 and its two-hundred day moving average is $111.71. The firm has a market cap of $113.98 billion, a P/E ratio of 35.78, a P/E/G ratio of 3.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.05. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.3%. Prologis’s dividend payout ratio is presently 117.78%.

Analysts Set New Price Targets

PLD has been the topic of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Prologis in a report on Thursday. Wells Fargo & Company raised their price objective on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Mizuho set a $118.00 price objective on Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research note on Monday, October 20th. Finally, Evercore ISI upped their target price on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $125.39.

Insider Activity at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the sale, the director directly owned 8,829 shares of the company’s stock, valued at approximately $1,087,203.06. This trade represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 27,000 shares of company stock valued at $3,013,665. 0.57% of the stock is owned by corporate insiders.

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.