Meiji Yasuda Asset Management Co Ltd. Buys 2,026 Shares of Prologis, Inc. (NYSE:PLD)

Meiji Yasuda Asset Management Co Ltd. increased its stake in Prologis, Inc. (NYSE:PLD) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,467 shares of the real estate investment trust’s stock after purchasing an additional 2,026 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Prologis were worth $6,903,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. True Wealth Design LLC bought a new position in Prologis in the 4th quarter valued at about $27,000. Optimum Investment Advisors acquired a new position in Prologis during the first quarter valued at approximately $26,000. American Capital Advisory LLC bought a new stake in Prologis during the second quarter worth $26,000. Clear Investment Research LLC boosted its holdings in shares of Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 158 shares in the last quarter. Finally, Central Valley Advisors LLC bought a new position in shares of Prologis in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of several recent analyst reports. Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Evercore ISI increased their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday. Argus lifted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group upped their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Barclays boosted their target price on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $133.35.

Prologis Price Performance

Shares of PLD opened at $128.91 on Wednesday. The business has a 50-day moving average of $125.00 and a 200-day moving average of $118.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $119.35 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last released 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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business posted $1.83 EPS. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 2.98%. Prologis’s payout ratio is currently 112.28%.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.