Sumitomo Mitsui Trust Group Inc. Trims Stake in Prologis, Inc. $PLD

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Prologis, Inc. (NYSE:PLD) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,215,857 shares of the real estate investment trust’s stock after selling 10,474 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.45% of Prologis worth $482,800,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after buying an additional 15,078 shares during the last quarter. Integrity Alliance LLC. purchased a new position in Prologis in the 1st quarter worth $284,000. Focus Partners Wealth lifted its position in Prologis by 4.1% in the first quarter. Focus Partners Wealth now owns 95,788 shares of the real estate investment trust’s stock valued at $10,754,000 after purchasing an additional 3,743 shares during the last quarter. Intech Investment Management LLC grew its holdings in Prologis by 49.5% in the 1st quarter. Intech Investment Management LLC now owns 17,952 shares of the real estate investment trust’s stock worth $2,007,000 after acquiring an additional 5,947 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in shares of Prologis by 5.5% in the second quarter. Harbor Investment Advisory LLC now owns 10,052 shares of the real estate investment trust’s stock worth $1,057,000 after purchasing an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.7%

Shares of NYSE:PLD opened at $129.35 on Monday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $131.70. The stock’s fifty day moving average price is $127.16 and its 200-day moving average price is $117.67. The company has a market cap of $120.15 billion, a P/E ratio of 37.71, a PEG ratio of 3.80 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. The business had revenue of $2.21 billion during the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, December 16th. Prologis’s payout ratio is 117.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PLD shares. Industrial Alliance Securities set a $119.00 price target on Prologis in a research note on Monday, October 20th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and upped their target price for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. BTIG Research increased their price target on shares of Prologis from $134.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 31st. Barclays dropped their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Finally, Wells Fargo & Company upped their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.18.

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the sale, 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 can be accessed through the SEC website. Also, Director James B. Connor sold 80,000 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $126.58, for a total value of $10,126,400.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 81,121 shares of company stock valued at $10,267,210. Company insiders own 0.57% of the company’s stock.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.