Daiwa Securities Group Inc. Lowers Position in Prologis, Inc. (NYSE:PLD)

Daiwa Securities Group Inc. reduced its stake in Prologis, Inc. (NYSE:PLD) by 15.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 5,775,360 shares of the real estate investment trust’s stock after selling 1,057,501 shares during the quarter. Prologis accounts for approximately 3.4% of Daiwa Securities Group Inc.’s portfolio, making the stock its 5th largest holding. Daiwa Securities Group Inc. owned 0.62% of Prologis worth $729,312,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PLD. Summit Trail Advisors LLC grew its stake in Prologis by 19.2% in the 3rd quarter. Summit Trail Advisors LLC now owns 12,444 shares of the real estate investment trust’s stock valued at $1,571,000 after buying an additional 2,002 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in shares of Prologis during the 3rd quarter valued at $112,000. Larson Financial Group LLC lifted its position in Prologis by 1.4% in the 3rd quarter. Larson Financial Group LLC now owns 15,942 shares of the real estate investment trust’s stock worth $2,013,000 after buying an additional 218 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in Prologis by 5.4% in the third quarter. Kingsview Wealth Management LLC now owns 21,187 shares of the real estate investment trust’s stock worth $2,676,000 after purchasing an additional 1,088 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Prologis by 37.0% in the 3rd quarter. Cerity Partners LLC now owns 220,680 shares of the real estate investment trust’s stock worth $27,867,000 after acquiring an additional 59,561 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Scotiabank lowered their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company increased their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.25.

Prologis Price Performance

Shares of PLD stock opened at $115.80 on Friday. The stock’s 50-day moving average is $119.75 and its 200 day moving average is $118.39. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $107.25 billion, a P/E ratio of 34.98, a PEG ratio of 3.00 and a beta of 1.08.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the business posted $1.30 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 3.32%. Prologis’s dividend payout ratio is currently 116.01%.

Prologis 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.