Sompo Asset Management Co. Ltd. Has $1.19 Million Position in Prologis, Inc. (NYSE:PLD)

Sompo Asset Management Co. Ltd. lessened its holdings in Prologis, Inc. (NYSE:PLD) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,440 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Prologis were worth $1,192,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Kingsview Wealth Management LLC raised its position in Prologis by 5.4% in the third quarter. Kingsview Wealth Management LLC now owns 21,187 shares of the real estate investment trust’s stock worth $2,676,000 after purchasing an additional 1,088 shares in the last quarter. Cerity Partners LLC boosted its holdings in Prologis by 37.0% during the third quarter. Cerity Partners LLC now owns 220,680 shares of the real estate investment trust’s stock valued at $27,867,000 after purchasing an additional 59,561 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of Prologis by 20.4% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 20,804 shares of the real estate investment trust’s stock valued at $2,627,000 after purchasing an additional 3,532 shares during the period. Nicolet Advisory Services LLC raised its holdings in shares of Prologis by 4.1% in the 3rd quarter. Nicolet Advisory Services LLC now owns 4,460 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 174 shares in the last quarter. Finally, Icon Wealth Advisors LLC raised its holdings in shares of Prologis by 274.9% in the 3rd quarter. Icon Wealth Advisors LLC now owns 35,369 shares of the real estate investment trust’s stock worth $4,466,000 after buying an additional 25,935 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PLD shares. Scotiabank lowered their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis Stock Up 1.6 %

NYSE:PLD opened at $115.80 on Friday. The stock’s fifty day moving average price is $119.75 and its two-hundred day moving average price is $118.39. The company has a market cap of $107.25 billion, a price-to-earnings ratio of 34.98, a P/E/G ratio of 3.00 and a beta of 1.08. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

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

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is 116.01%.

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.