Amundi Boosts Stake in Prologis, Inc. $PLD

Amundi boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 17.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 4,630,744 shares of the real estate investment trust’s stock after acquiring an additional 673,861 shares during the quarter. Amundi owned about 0.50% of Prologis worth $501,556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLD. Vanguard Group Inc. grew its position in Prologis by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 121,741,332 shares of the real estate investment trust’s stock worth $12,797,449,000 after purchasing an additional 401,922 shares during the period. Geode Capital Management LLC grew its position in shares of Prologis by 1.4% in the second quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock valued at $2,345,922,000 after purchasing an additional 310,333 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Prologis by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock valued at $1,735,205,000 after acquiring an additional 253,338 shares during the last quarter. Nuveen LLC purchased a new position in Prologis in the 1st quarter valued at $1,456,768,000. Finally, Norges Bank purchased a new position in shares of Prologis during the 2nd quarter worth $1,288,936,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $127.97 on Friday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $130.45. The company’s 50 day simple moving average is $123.04 and its 200 day simple moving average is $113.81. The company has a market capitalization of $118.87 billion, a price-to-earnings ratio of 37.31, a PEG ratio of 3.94 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. Prologis’s dividend payout ratio is currently 117.78%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PLD shares. Truist Financial reissued a “buy” rating and set a $131.00 target price (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Prologis in a research note on Monday. Mizuho raised their target price on Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and increased their price objective for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Finally, UBS Group set a $138.00 target price on Prologis in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.78.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction that occurred on 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 directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 1,621 shares of company stock worth $198,655. Corporate insiders own 0.57% of the company’s stock.

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.