Prologis, Inc. (NYSE:PLD) Shares Sold by Legal & General Group Plc

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Prologis logo Legal & General Group Plc reduced its stake in Prologis, Inc. (NYSE:PLD – Free Report) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,973,135 shares of the real estate investment trust’s stock after selling 471,222 shares during the quarter. Legal & General Group Plc’s holdings in Prologis were worth $1,457,014,000 at the end of the most recent reporting period.

A number of other institutional investors have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC boosted its stake in Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Capital World Investors boosted its holdings in shares of Prologis by 1,252.9% in the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after buying an additional 6,765,582 shares during the period. Swedbank AB acquired a new stake in Prologis in the first quarter worth about $596,614,000. Alphinity Investment Management Pty Ltd acquired a new position in Prologis in the first quarter worth about $465,659,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Prologis in the second quarter valued at approximately $203,223,000. Hedge funds and other institutional investors own 93.50% of the company’s shares.

Insider trading at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the director now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Corporate insiders own 0.50% of the company’s shares.

Prologis price performance

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Shares of Prologis stock opened at $125.24 on Friday. The company’s 50-day moving average is $125.79, and its two-hundred-day moving average is $118.54. The firm has a market cap of $115.96 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36, and a debt-to-equity ratio of 0.52. Prologis, Inc. it has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. In the same quarter last year, the business posted earnings per share of $1.83. The company’s revenue fell 18.1% year over year. On average, research analysts expect that Prologis, Inc. to post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.96 dividend. This represents an annualized dividend of $3.84 and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, September 16. Prologis’s payout ratio is currently 112.28%.

Analyst upgrades and downgrades

PLD has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Bank of America restated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Scotiabank boosted their target price on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $127.00 in a research note for Monday, August 5. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and a consensus price target of $133.35, according to MarketBeat.com.

See the latest stock analysis on Prologis

Prologis profile

(Free Report)

Prologis, Inc is the global leader in real estate logistics with a focus on high barrier and high growth markets. As of March 31, 2024, the company owned or had investments in, on a wholly owned or co-investment basis, properties and development projects estimated to total approximately 1.2 billion square meters (115 million square feet) in 19 countries.