FUKOKU MUTUAL LIFE INSURANCE Co Decreases Position in Prologis, Inc. $PLD

FUKOKU MUTUAL LIFE INSURANCE Co decreased its position in Prologis, Inc. (NYSE:PLD) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,777 shares of the real estate investment trust’s stock after selling 758 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Prologis were worth $397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PLD. Activest Wealth Management lifted its position in shares of Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares during the last quarter. 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 bought a new position in Prologis during the first quarter worth about $41,000. Finally, Barrett & Company Inc. purchased a new position in shares of Prologis in the second quarter worth about $44,000. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction that occurred 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. The trade was a 5.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 27,000 shares of company stock worth $3,013,665. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and upped their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a report on Monday, October 20th. Truist Financial restated a “buy” rating and set a $131.00 target price (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Citigroup reduced their price target on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Finally, Evercore ISI boosted their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $125.39.

Prologis Stock Performance

NYSE PLD opened at $122.46 on Thursday. The company’s 50 day simple moving average is $119.81 and its two-hundred day simple moving average is $112.18. 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, Inc. has a 1 year low of $85.35 and a 1 year high of $127.50. The stock has a market capitalization of $113.75 billion, a PE ratio of 35.70, a P/E/G ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business earned $1.43 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio is 117.78%.

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.