Westpac Banking Corp Reduces Position in Prologis, Inc. $PLD

Westpac Banking Corp decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 6.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,020 shares of the real estate investment trust’s stock after selling 4,774 shares during the quarter. Westpac Banking Corp’s holdings in Prologis were worth $8,859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. High Point Wealth Management LLC purchased a new position in Prologis during the 4th quarter valued at $26,000. Ares Financial Consulting LLC purchased a new stake in Prologis in the fourth quarter worth $26,000. Eagle Bay Advisors LLC purchased a new stake in Prologis in the fourth quarter worth $27,000. SouthState Bank Corp lifted its position in shares of Prologis by 73.1% during the fourth quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 95 shares during the last quarter. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Prologis during the fourth quarter worth $29,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLD. Raymond James Financial assumed coverage on shares of Prologis in a research note on Thursday, June 18th. They issued a “market perform” rating on the stock. Robert W. Baird boosted their price objective on shares of Prologis from $133.00 to $136.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Weiss Ratings upgraded shares of Prologis from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Bank of America upped their target price on shares of Prologis from $153.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Barclays raised their target price on shares of Prologis from $139.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $153.62.

Prologis News Roundup

Here are the key news stories impacting Prologis this week:

• Positive Sentiment: Barclays initiated/maintained a bullish stance on Prologis, and Truist Financial raised its price target to $162 from $154 while reiterating a buy rating, signaling confidence in further upside. Benzinga article
• Positive Sentiment: Articles highlighted strong warehouse leasing activity and momentum in Prologis’s core logistics real estate business, reinforcing the view that operating fundamentals remain solid. Article on warehouse leasing
• Positive Sentiment: Investor commentary and market coverage framed Prologis as a momentum and growth name, which can attract additional buyers in a strong trading session. Zacks article
• Neutral Sentiment: Prologis remained in the headlines for its attempt to acquire SEGRO, with Norges Bank saying the merger rationale deserves consideration, but the deal remains uncertain and has been repeatedly rejected. WSJ article
• Negative Sentiment: SEGRO rejected Prologis’s revised takeover proposal, underscoring execution risk and suggesting the acquisition may not happen, which can weigh on sentiment around the deal strategy. Reuters article

Prologis Price Performance

PLD opened at $149.90 on Wednesday. The company has a market capitalization of $139.75 billion, a price-to-earnings ratio of 33.38 and a beta of 1.32. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.63. Prologis, Inc. has a 12-month low of $103.41 and a 12-month high of $153.35. The business’s fifty day simple moving average is $143.32 and its 200-day simple moving average is $138.25.

Prologis (NYSE:PLD) last released its quarterly earnings data on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.38. Prologis had a return on equity of 7.29% and a net margin of 45.79%.The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. On average, equities research analysts anticipate that Prologis, Inc. will post 6.27 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $4.28 dividend on an annualized basis and a yield of 2.9%. Prologis’s dividend payout ratio (DPR) is 95.32%.

Insider Activity at Prologis

In other news, CFO Timothy D. Arndt sold 3,597 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.