Prologis, Inc. (NYSE:PLD) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its holdings in Prologis, Inc. (NYSE:PLD) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,831 shares of the real estate investment trust’s stock after selling 6,357 shares during the period. MetLife Investment Management LLC’s holdings in Prologis were worth $33,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB boosted its holdings in shares of Prologis by 9.2% during the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after buying an additional 43,235 shares during the last quarter. Sunflower Bank N.A. purchased a new stake in Prologis in the 3rd quarter valued at $249,000. Cetera Advisors LLC increased its stake in shares of Prologis by 118.7% in the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after acquiring an additional 20,623 shares during the last quarter. Finally, Abundance Wealth Counselors purchased a new position in shares of Prologis during the 2nd quarter worth $973,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 0.1 %

Shares of PLD stock opened at $116.25 on Wednesday. The stock has a market capitalization of $107.67 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a 50 day moving average price of $119.27 and a 200 day moving average price of $118.61.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 EPS. Equities research analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is presently 116.01%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLD. Wells Fargo & Company upped their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. cut their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Scotiabank decreased their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Finally, Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.25.

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.