Sumitomo Mitsui DS Asset Management Company Ltd Has $36.63 Million Position in Prologis, Inc. $PLD

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,852 shares of the real estate investment trust’s stock after buying an additional 7,531 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Prologis were worth $36,629,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PLD. Kesler Norman & Wride LLC boosted its position in Prologis by 19.3% during the third quarter. Kesler Norman & Wride LLC now owns 5,603 shares of the real estate investment trust’s stock valued at $592,000 after purchasing an additional 908 shares during the last quarter. Mainsail Financial Group LLC increased its position in shares of Prologis by 4.6% during the 3rd quarter. Mainsail Financial Group LLC now owns 8,414 shares of the real estate investment trust’s stock worth $964,000 after purchasing an additional 368 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Prologis by 32.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 106,092 shares of the real estate investment trust’s stock worth $12,150,000 after purchasing an additional 25,870 shares in the last quarter. Cromwell Holdings LLC boosted its holdings in shares of Prologis by 44.9% in the 3rd quarter. Cromwell Holdings LLC now owns 1,390 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 431 shares during the last quarter. Finally, Essex LLC boosted its holdings in shares of Prologis by 13.4% in the 3rd quarter. Essex LLC now owns 2,956 shares of the real estate investment trust’s stock valued at $338,000 after buying an additional 349 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. Industrial Alliance Securities set a $119.00 price target on shares of Prologis in a research report on Monday, October 20th. Wells Fargo & Company boosted their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Evercore ISI upped their target price on shares of Prologis from $116.00 to $118.00 in a report on Monday, December 22nd. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a report on Monday, October 20th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Prologis in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.18.

Insider Transactions at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the transaction, the director directly owned 8,208 shares in the company, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James B. Connor sold 80,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 81,121 shares of company stock valued at $10,267,210. 0.57% of the stock is currently owned by company insiders.

Prologis Stock Up 0.7%

Prologis stock opened at $129.35 on Friday. The company’s 50-day moving average price is $127.16 and its two-hundred day moving average price is $117.51. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The stock has a market cap of $120.15 billion, a P/E ratio of 37.71, a P/E/G ratio of 3.77 and a beta of 1.40. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $131.70.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. The company had revenue of $2.21 billion for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. As a group, analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.1%. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

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.