Daiwa Securities Group Inc. Sells 1,057,501 Shares of Prologis, Inc. (NYSE:PLD)

Daiwa Securities Group Inc. lowered its position in Prologis, Inc. (NYSE:PLD) by 15.5% in the third quarter, HoldingsChannel reports. The fund owned 5,775,360 shares of the real estate investment trust’s stock after selling 1,057,501 shares during the quarter. Prologis accounts for about 3.4% of Daiwa Securities Group Inc.’s portfolio, making the stock its 5th largest position. Daiwa Securities Group Inc.’s holdings in Prologis were worth $729,312,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PLD. American Capital Advisory LLC acquired a new stake in Prologis in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the second quarter valued at approximately $27,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis in the 2nd quarter valued at $29,000. Sunbelt Securities Inc. lifted its position in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis during the 2nd quarter worth approximately $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 1.6 %

PLD opened at $115.80 on Friday. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The business has a 50-day moving average of $119.75 and a two-hundred day moving average of $118.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $107.25 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 3.00 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. On average, research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLD. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lowered their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Bank of America reiterated a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Finally, Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

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.