Prologis, Inc. $PLD Stock Position Raised by Jennison Associates LLC

Jennison Associates LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 9.7% in the second quarter, Holdings Channel reports. The firm owned 1,098,140 shares of the real estate investment trust’s stock after buying an additional 97,248 shares during the period. Jennison Associates LLC’s holdings in Prologis were worth $115,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alley Investment Management Company LLC increased its holdings in shares of Prologis by 102.8% during the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock valued at $12,111,000 after acquiring an additional 54,914 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Prologis during the 1st quarter valued at about $2,120,000. Truist Financial Corp increased its holdings in shares of Prologis by 9.3% during the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock valued at $33,232,000 after acquiring an additional 25,229 shares during the last quarter. Ally Financial Inc. increased its holdings in shares of Prologis by 16.7% during the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Prologis by 2.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust’s stock valued at $33,249,000 after acquiring an additional 6,350 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred on Tuesday, August 26th. The stock was 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 $46,090.62. The trade was a 98.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 in the last three months. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of analyst reports. Industrial Alliance Securities set a $119.00 price objective on Prologis in a report on Monday, October 20th. UBS Group set a $137.00 price objective on Prologis and gave the company a “buy” rating in a report on Tuesday, October 21st. Truist Financial reissued a “buy” rating and set a $131.00 price objective (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Citigroup lowered their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.56.

Prologis Stock Performance

Shares of NYSE PLD opened at $125.80 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $115.93 and its two-hundred day moving average is $109.62. The company has a market cap of $116.82 billion, a P/E ratio of 36.68, a P/E/G ratio of 3.22 and a beta of 1.28. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping the consensus estimate of $1.44 by $0.05. The company had revenue of $2.05 billion for 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%.The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current 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 issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

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.