Massachusetts Financial Services Co. MA Sells 63,717 Shares of Prologis, Inc. (NYSE:PLD)

Massachusetts Financial Services Co. MA lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,501,413 shares of the real estate investment trust’s stock after selling 63,717 shares during the period. Massachusetts Financial Services Co. MA owned about 1.78% of Prologis worth $1,853,274,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PLD. Valeo Financial Advisors LLC raised its holdings in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Norges Bank bought a new stake in shares of Prologis in the fourth quarter valued at $1,074,648,000. Capital World Investors raised its stake in shares of Prologis by 1,252.9% in the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after buying an additional 6,765,582 shares during the period. Swedbank AB purchased a new position in shares of Prologis during the 1st quarter valued at $596,614,000. Finally, Alphinity Investment Management Pty Ltd bought a new position in shares of Prologis during the 1st quarter worth $465,659,000. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on PLD shares. Mizuho dropped their price objective on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley increased their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Bank of America reiterated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Finally, The Goldman Sachs Group increased their price objective on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.12.

Prologis Stock Down 0.2 %

Shares of NYSE:PLD opened at $129.98 on Monday. The firm has a fifty day moving average of $124.42 and a 200 day moving average of $118.74. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $120.34 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 earnings per share. As a group, research analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. Prologis’s payout ratio is 112.28%.

Prologis Company 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.