Massachusetts Financial Services Co. MA Has $2.05 Billion Stock Holdings in Prologis, Inc. (NYSE:PLD)

Massachusetts Financial Services Co. MA decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 1.5% in the third quarter, Holdings Channel.com reports. The firm owned 16,261,892 shares of the real estate investment trust’s stock after selling 239,521 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Prologis were worth $2,053,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLD. Swedbank AB lifted its holdings in shares of Prologis by 9.2% during the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after acquiring an additional 43,235 shares during the last quarter. Sunflower Bank N.A. bought a new stake in Prologis in the third quarter worth approximately $249,000. Cetera Advisors LLC increased its stake in shares of Prologis by 118.7% during the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after purchasing an additional 20,623 shares during the last quarter. Finally, Abundance Wealth Counselors bought a new position in shares of Prologis during the 2nd quarter valued at $973,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of several analyst reports. Scotiabank lowered their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Morgan Stanley upped 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. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Truist Financial boosted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.18.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Price Performance

NYSE:PLD opened at $114.54 on Thursday. The company has a market capitalization of $106.08 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 3.03 and a beta of 1.08. The company has a 50-day moving average of $120.36 and a 200-day moving average of $118.27. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the business earned $1.30 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Prologis 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.