Mitsubishi UFJ Trust & Banking Corp Raises Stock Position in Prologis, Inc. $PLD

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 13.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 555,421 shares of the real estate investment trust’s stock after acquiring an additional 66,665 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Prologis worth $58,386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Activest Wealth Management increased its position in Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. acquired a new stake in shares of Prologis during the first quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis in the 1st quarter valued at $34,000. Saudi Central Bank purchased a new stake in shares of Prologis in the first quarter valued at about $41,000. Finally, Barrett & Company Inc. purchased a new position in Prologis during the second quarter worth about $44,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD opened at $124.87 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The stock has a market cap of $115.98 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 3.13 and a beta of 1.29. The stock has a fifty day moving average price of $118.73 and a 200 day moving average price of $111.49. Prologis, Inc. has a 1 year low of $85.35 and a 1 year 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 company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.Prologis’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio is currently 117.78%.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This trade represents a 9.23% 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, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 27,000 shares of company stock valued at $3,013,665. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. UBS Group set a $133.00 price target on Prologis in a research note on Monday. Mizuho set a $118.00 price target on shares of Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Evercore ISI increased their price objective on shares of Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a report on Thursday, October 16th. Barclays decreased their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.39.

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.