Prologis, Inc. (NYSE:PLD) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC cut its holdings in Prologis, Inc. (NYSE:PLD) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,831 shares of the real estate investment trust’s stock after selling 6,357 shares during the period. MetLife Investment Management LLC’s holdings in Prologis were worth $33,948,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. boosted its holdings in Prologis by 48.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 20,792 shares of the real estate investment trust’s stock valued at $2,708,000 after purchasing an additional 6,780 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in shares of Prologis by 379.1% in the 1st quarter. Beacon Capital Management LLC now owns 872 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 690 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in shares of Prologis in the 1st quarter valued at $232,000. Wahed Invest LLC lifted its position in Prologis by 17.3% in the first quarter. Wahed Invest LLC now owns 18,307 shares of the real estate investment trust’s stock valued at $2,384,000 after acquiring an additional 2,701 shares during the last quarter. Finally, Pacific Center for Financial Services acquired a new position in Prologis in the first quarter valued at $154,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

NYSE:PLD opened at $116.25 on Wednesday. The firm’s fifty day simple moving average is $119.27 and its 200-day simple moving average is $118.61. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $107.67 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52.

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 the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.30%. Prologis’s dividend payout ratio is presently 116.01%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PLD shares. Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Bank of America reiterated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Truist Financial increased their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.25.

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.