Varma Mutual Pension Insurance Co Sells 17,754 Shares of Prologis, Inc. (NYSE:PLD)

Varma Mutual Pension Insurance Co decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 197,446 shares of the real estate investment trust’s stock after selling 17,754 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Prologis were worth $22,175,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PLD. Gilbert & Cook Inc. increased its stake in Prologis by 4.4% during the fourth quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock valued at $731,000 after acquiring an additional 233 shares during the period. Gryphon Financial Partners LLC grew its holdings in shares of Prologis by 61.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock worth $692,000 after purchasing an additional 1,995 shares in the last quarter. Wealthspire Advisors LLC bought a new stake in shares of Prologis during the fourth quarter valued at approximately $259,000. Principal Securities Inc. acquired a new position in shares of Prologis in the fourth quarter valued at $1,956,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Prologis by 75.8% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,950 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 1,272 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank boosted their price target on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Truist Financial raised their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Bank of America reiterated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Finally, Mizuho cut their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.12.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Prologis Trading Down 0.1 %

NYSE:PLD traded down $0.18 during trading hours on Friday, hitting $127.23. 2,484,242 shares of the stock were exchanged, compared to its average volume of 3,616,621. The company’s 50 day moving average is $122.67 and its two-hundred day moving average is $118.93. The company has a market capitalization of $117.80 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 3.28 and a beta of 1.07. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue was down 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.83 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Prologis Company 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.