Prologis, Inc. $PLD Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 17.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,395 shares of the real estate investment trust’s stock after purchasing an additional 32,216 shares during the period. Prologis accounts for 0.6% of Metis Global Partners LLC’s portfolio, making the stock its 21st largest position. Metis Global Partners LLC’s holdings in Prologis were worth $23,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Activest Wealth Management boosted its holdings in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. bought a new stake in Prologis in the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis in the 1st quarter valued at about $34,000. Saudi Central Bank acquired a new position in Prologis during the 1st quarter valued at about $41,000. Finally, Barrett & Company Inc. bought a new position in Prologis in the 2nd quarter worth about $44,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 1.3%

NYSE PLD opened at $125.57 on Friday. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50. The company has a market capitalization of $116.64 billion, a P/E ratio of 36.61, a PEG ratio of 3.13 and a beta of 1.29. The company’s 50 day simple moving average is $117.94 and its 200 day simple moving average is $110.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared 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. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. Prologis’s payout ratio is currently 117.78%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLD. UBS Group set a $137.00 price objective on Prologis and gave the stock a “buy” rating in a report on Tuesday, October 21st. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and increased their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a report on Monday, October 20th. Finally, Barclays lowered their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.56.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the completion of the sale, the director owned 8,829 shares in the company, valued at $1,087,203.06. This represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 27,000 shares of company stock valued at $3,013,665. 0.57% of the stock is owned by insiders.

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.