Prologis, Inc. (NYSE:PLD) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in Prologis, Inc. (NYSE:PLD) by 11.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 160,379 shares of the real estate investment trust’s stock after selling 20,105 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Prologis were worth $20,253,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PLD. Vanguard Group Inc. boosted its holdings in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after acquiring an additional 317,815 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Prologis by 1.4% in the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after acquiring an additional 167,131 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after acquiring an additional 367,565 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Prologis by 16.3% in the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock valued at $767,398,000 after acquiring an additional 958,914 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Barclays decreased their price objective on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Scotiabank decreased their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Finally, Truist Financial boosted their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Stock Performance

NYSE:PLD opened at $114.10 on Tuesday. The firm has a 50 day simple moving average of $122.42 and a 200-day simple moving average of $117.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $105.68 billion, a PE ratio of 34.47, a P/E/G ratio of 3.04 and a beta of 1.08. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.37%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred 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 directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% 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.