Meiji Yasuda Asset Management Co Ltd. Has $7.83 Million Stake in Prologis, Inc. $PLD

Meiji Yasuda Asset Management Co Ltd. trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 5.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,033 shares of the real estate investment trust’s stock after selling 4,223 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Prologis were worth $7,829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Arete Wealth Advisors LLC raised its holdings in Prologis by 6.1% in the 1st quarter. Arete Wealth Advisors LLC now owns 6,791 shares of the real estate investment trust’s stock valued at $759,000 after buying an additional 390 shares during the last quarter. Fred Alger Management LLC raised its holdings in Prologis by 7.2% during the 1st quarter. Fred Alger Management LLC now owns 26,119 shares of the real estate investment trust’s stock worth $2,920,000 after purchasing an additional 1,745 shares during the last quarter. Everstar Asset Management LLC acquired a new stake in shares of Prologis during the 1st quarter worth approximately $3,747,000. Kestra Investment Management LLC grew its position in shares of Prologis by 194.9% during the 1st quarter. Kestra Investment Management LLC now owns 519 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 343 shares during the period. Finally, Presima Securities ULC grew its position in shares of Prologis by 9.8% during the 1st quarter. Presima Securities ULC now owns 452,943 shares of the real estate investment trust’s stock worth $50,634,000 after buying an additional 40,283 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.8%

PLD stock opened at $113.57 on Monday. The company has a market capitalization of $105.42 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The company’s 50 day moving average price is $108.56 and its two-hundred day moving average price is $108.14.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Prologis’s dividend payout ratio is 109.49%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PLD shares. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Wall Street Zen downgraded shares of Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. UBS Group lifted their target price on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an “overweight” rating in a research note on Sunday, July 13th. Finally, Mizuho set a $118.00 price objective on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $121.83.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction 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 $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Prologis 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.