OVERSEA CHINESE BANKING Corp Ltd Sells 43,630 Shares of Prologis, Inc. $PLD

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 27.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,845 shares of the real estate investment trust’s stock after selling 43,630 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Prologis were worth $12,388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alley Investment Management Company LLC raised its position in Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock valued at $12,111,000 after purchasing an additional 54,914 shares during the last quarter. Jump Financial LLC bought a new position in Prologis in the 1st quarter valued at $2,120,000. Truist Financial Corp raised its position in Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock valued at $33,232,000 after purchasing an additional 25,229 shares during the last quarter. Ally Financial Inc. raised its position in Prologis by 16.7% in the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Prologis by 2.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust’s stock valued at $33,249,000 after purchasing an additional 6,350 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PLD shares. Industrial Alliance Securities set a $119.00 price objective on Prologis in a research report on Monday, October 20th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Truist Financial reiterated a “buy” rating and issued a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Citigroup dropped their target price on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $124.44.

Prologis Trading Up 0.7%

PLD stock opened at $126.60 on Monday. The company has a market cap of $117.57 billion, a P/E ratio of 36.91, a PEG ratio of 3.20 and a beta of 1.28. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.50. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $115.20 and a 200-day moving average of $109.21.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio is currently 117.78%.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the sale, the director owned 9,329 shares of the company’s stock, valued at $1,079,272.01. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock valued at $2,952,095 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

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.