Prologis, Inc. $PLD Shares Bought by Amundi

Amundi lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 17.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,630,744 shares of the real estate investment trust’s stock after buying an additional 673,861 shares during the period. Amundi’s holdings in Prologis were worth $501,556,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PLD. Nuveen LLC purchased a new stake in shares of Prologis in the first quarter worth about $1,456,768,000. Norges Bank purchased a new position in Prologis in the 2nd quarter worth approximately $1,288,936,000. Franklin Resources Inc. boosted its holdings in Prologis by 216.0% in the 2nd quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust’s stock worth $1,056,545,000 after acquiring an additional 6,870,479 shares during the period. Price T Rowe Associates Inc. MD grew its position in Prologis by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after acquiring an additional 1,146,454 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Prologis during the first quarter valued at approximately $98,308,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE:PLD opened at $127.97 on Friday. The company has a market cap of $118.87 billion, a PE ratio of 37.31, a P/E/G ratio of 3.94 and a beta of 1.40. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $130.45. The firm has a 50-day simple moving average of $123.04 and a 200 day simple moving average of $113.81. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.Prologis’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, December 16th. Prologis’s dividend payout ratio is presently 117.78%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Truist Financial reiterated a “buy” rating and issued a $131.00 price objective (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price for the company in a research note on Monday, October 20th. UBS Group set a $138.00 target price on Prologis in a research report on Thursday. Finally, Scotiabank increased their price target on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $126.78.

Insiders Place Their Bets

In other news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the transaction, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,621 shares of company stock valued at $198,655 over the last quarter. 0.57% of the stock is owned by company insiders.

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.