Perpetual Ltd Reduces Stock Holdings in Prologis, Inc. $PLD

Perpetual Ltd lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 349,984 shares of the real estate investment trust’s stock after selling 13,474 shares during the quarter. Perpetual Ltd’s holdings in Prologis were worth $40,080,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Activest Wealth Management raised its stake in Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new position in Prologis in the first quarter valued at $34,000. Saudi Central Bank purchased a new position in shares of Prologis during the first quarter worth about $41,000. Barrett & Company Inc. purchased a new position in shares of Prologis during the second quarter worth about $44,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Prologis during the second quarter worth about $44,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 0.4%

Shares of PLD stock opened at $127.20 on Friday. The company has a market capitalization of $118.15 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 3.92 and a beta of 1.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $125.69 and its two-hundred day moving average is $115.33. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $131.70.

Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.21 billion during the quarter. Equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is 117.78%.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research analyst reports. UBS Group set a $138.00 target price on Prologis in a research report on Thursday, December 4th. Evercore ISI boosted their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Truist Financial reissued a “buy” rating and issued a $131.00 price objective (up from $120.00) on shares of Prologis in a report on Monday, October 20th. Scotiabank lifted their target price on shares of Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. Finally, Industrial Alliance Securities set a $119.00 price target on shares of Prologis in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $126.88.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director owned 8,208 shares of the company’s stock, valued at $1,047,340.80. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 1,621 shares of company stock valued at $198,655. 0.57% of the stock is currently owned by company insiders.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.