Axa S.A. Decreases Holdings in Prologis, Inc. (NYSE:PLD)

Axa S.A. lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,469,907 shares of the real estate investment trust’s stock after selling 39,509 shares during the period. Axa S.A.’s holdings in Prologis were worth $155,369,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PLD. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis in the fourth quarter valued at $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the fourth quarter worth about $30,000. Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the fourth quarter worth about $34,000. Finally, Promus Capital LLC purchased a new stake in shares of Prologis in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Mizuho dropped their price target on Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Morgan Stanley lowered their target price on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. BMO Capital Markets reduced their price target on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Robert W. Baird lifted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.05.

Prologis Trading Up 2.3 %

NYSE:PLD opened at $105.49 on Friday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a fifty day moving average price of $107.68 and a two-hundred day moving average price of $111.99. The stock has a market capitalization of $97.79 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.83%. Prologis’s payout ratio is 101.00%.

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.