Meiji Yasuda Asset Management Co Ltd. Has $6.90 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Meiji Yasuda Asset Management Co Ltd. increased its position in Prologis, Inc. (NYSE:PLD) by 3.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 61,467 shares of the real estate investment trust’s stock after purchasing an additional 2,026 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Prologis were worth $6,903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. Nordea Investment Management AB raised its position in shares of Prologis by 380.0% during the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after purchasing an additional 263,649 shares during the period. Swedbank AB lifted its position in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after acquiring an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after purchasing an additional 43,235 shares in the last quarter. Atalanta Sosnoff Capital LLC purchased a new position in shares of Prologis during the fourth quarter valued at approximately $18,551,000. Finally, US Bancorp DE grew its holdings in Prologis by 6.5% during the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after buying an additional 41,469 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PLD. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $124.00 to $127.00 in a report on Monday, August 5th. The Goldman Sachs Group increased their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Scotiabank boosted their target price on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Finally, Wells Fargo & Company upped their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $133.35.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.

Prologis Price Performance

PLD opened at $128.91 on Wednesday. The firm has a 50-day moving average price of $125.00 and a 200-day moving average price of $118.68. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $119.35 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.83 earnings per share. Equities analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.96 per share. The ex-dividend date is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 2.98%. Prologis’s dividend payout ratio (DPR) is 112.28%.

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.