Prologis, Inc. $PLD Stock Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Prologis, Inc. (NYSE:PLD) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,798,254 shares of the real estate investment trust’s stock after acquiring an additional 37,329 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Prologis were worth $493,165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PLD. Baird Financial Group Inc. lifted its holdings in shares of Prologis by 20.6% during the 2nd quarter. Baird Financial Group Inc. now owns 122,809 shares of the real estate investment trust’s stock valued at $16,637,000 after purchasing an additional 21,000 shares during the last quarter. Nykredit A S acquired a new stake in shares of Prologis in the 2nd quarter worth $40,490,000. Callan Family Office LLC purchased a new position in Prologis during the 2nd quarter worth $3,394,000. BlackRock Inc. purchased a new position in Prologis during the 2nd quarter worth $14,006,587,000. Finally, AssuredPartners Investment Advisors LLC purchased a new position in Prologis during the 2nd quarter worth $3,436,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on PLD shares. Mizuho upped their target price on Prologis from $150.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Wells Fargo & Company lowered their price target on Prologis from $167.00 to $166.00 and set an “overweight” rating for the company in a report on Tuesday, September 1st. Weiss Ratings downgraded Prologis from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 26th. Scotiabank upgraded Prologis from a “sector perform” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research note on Tuesday, October 13th. Finally, Williams Trading set a $150.00 price objective on shares of Prologis in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $154.68.

Prologis Price Performance

Shares of NYSE PLD opened at $128.09 on Friday. The business’s 50 day moving average price is $132.95 and its 200 day moving average price is $137.78. The firm has a market cap of $121.75 billion, a P/E ratio of 28.28, a P/E/G ratio of 1.46 and a beta of 1.31. Prologis, Inc. has a 52 week low of $121.40 and a 52 week high of $153.35. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.61.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.28 dividend on an annualized basis and a yield of 3.3%. Prologis’s dividend payout ratio (DPR) is currently 94.48%.

Prologis Company Profile

Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.

The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.

Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.