Legal & General Group Plc Has $1.14 Billion Stock Holdings in Prologis, Inc. $PLD

Legal & General Group Plc boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,862,529 shares of the real estate investment trust’s stock after purchasing an additional 332,311 shares during the quarter. Legal & General Group Plc’s holdings in Prologis were worth $1,141,869,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PLD. Activest Wealth Management boosted its position in shares of Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. acquired a new position in Prologis during the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis in the 1st quarter valued at $34,000. Saudi Central Bank acquired a new stake in Prologis in the 1st quarter worth $41,000. Finally, Barrett & Company Inc. bought a new position in shares of Prologis during the 2nd quarter worth about $44,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Up 0.7%

Shares of NYSE PLD opened at $123.26 on Friday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. The business has a fifty day moving average of $119.97 and a two-hundred day moving average of $112.26. The stock has a market cap of $114.49 billion, a PE ratio of 35.93, a PEG ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insider Buying and Selling

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the sale, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,000 shares of company stock valued at $3,013,665 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Prologis in a research report on Wednesday. Scotiabank boosted their price objective on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Mizuho set a $118.00 target price on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Finally, UBS Group set a $133.00 price target on shares of Prologis in a research note on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.39.

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.