Mirae Asset Global Investments Co. Ltd. Cuts Position in Prologis, Inc. $PLD

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Prologis, Inc. (NYSE:PLD) by 1.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 142,423 shares of the real estate investment trust’s stock after selling 1,750 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Prologis were worth $14,972,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC grew its holdings in Prologis by 2.7% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 4,719 shares of the real estate investment trust’s stock worth $496,000 after purchasing an additional 126 shares during the period. J. Safra Sarasin Holding AG grew its holdings in shares of Prologis by 17.2% during the second quarter. J. Safra Sarasin Holding AG now owns 2,221 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 326 shares during the last quarter. EWA LLC grew its holdings in shares of Prologis by 5.8% during the second quarter. EWA LLC now owns 1,936 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 106 shares during the last quarter. Vert Asset Management LLC grew its holdings in shares of Prologis by 6.5% during the second quarter. Vert Asset Management LLC now owns 184,251 shares of the real estate investment trust’s stock valued at $19,368,000 after buying an additional 11,176 shares during the last quarter. Finally, RKL Wealth Management LLC grew its holdings in shares of Prologis by 4.4% during the second quarter. RKL Wealth Management LLC now owns 13,019 shares of the real estate investment trust’s stock valued at $1,369,000 after buying an additional 546 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.8%

Shares of PLD stock opened at $117.09 on Friday. The company has a market capitalization of $108.69 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 2.96 and a beta of 1.28. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The company’s fifty day moving average price is $111.03 and its 200-day moving average price is $107.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 109.49%.

Analyst Ratings Changes

PLD has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and raised their target price for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Mizuho set a $118.00 price target on shares of Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Finally, Barclays decreased their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.58.

Insider Buying and Selling at Prologis

In other Prologis 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 directly owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the sale, the director owned 9,329 shares in the company, valued at approximately $1,079,272.01. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 over the last 90 days. 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.