Elo Mutual Pension Insurance Co Cuts Holdings in Prologis, Inc. $PLD

Elo Mutual Pension Insurance Co cut its stake in Prologis, Inc. (NYSE:PLD) by 27.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,037 shares of the real estate investment trust’s stock after selling 45,502 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Prologis were worth $12,934,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PLD. Vanguard Group Inc. grew its stake in shares of Prologis by 0.3% during the second quarter. Vanguard Group Inc. now owns 121,741,332 shares of the real estate investment trust’s stock valued at $12,797,449,000 after buying an additional 401,922 shares during the last quarter. Geode Capital Management LLC grew its position in Prologis by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock worth $2,345,922,000 after acquiring an additional 310,333 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Prologis by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock worth $1,735,205,000 after purchasing an additional 253,338 shares during the period. Nuveen LLC purchased a new position in Prologis in the 1st quarter worth approximately $1,456,768,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Prologis by 3.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 10,875,240 shares of the real estate investment trust’s stock valued at $1,143,205,000 after purchasing an additional 379,308 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.8%

Shares of NYSE PLD opened at $126.78 on Tuesday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.56. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. The firm has a 50-day moving average of $120.43 and a 200 day moving average of $112.66. The stock has a market cap of $117.76 billion, a P/E ratio of 36.96, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. The business had revenue of $2.21 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 quarter in the previous year, the business earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

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

Wall Street Analyst Weigh In

PLD has been the topic of several analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $131.00 target price (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. Mizuho set a $118.00 price target on shares of Prologis and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research note on Monday, October 20th. UBS Group set a $133.00 target price on shares of Prologis in a report on Monday, November 10th. Finally, Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.39.

Insider Activity at Prologis

In related news, Director Cristina Gabriela Bita sold 500 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the transaction, the director directly owned 8,829 shares of the company’s stock, valued at approximately $1,087,203.06. This trade represents a 5.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 2,000 shares of company stock valued at $230,415. Corporate insiders own 0.57% 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.