AIA Group Ltd Sells 45,008 Shares of Prologis, Inc. (NYSE:PLD)

AIA Group Ltd cut its stake in Prologis, Inc. (NYSE:PLD) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 229,841 shares of the real estate investment trust’s stock after selling 45,008 shares during the quarter. Prologis accounts for about 1.3% of AIA Group Ltd’s investment portfolio, making the stock its 19th largest holding. AIA Group Ltd’s holdings in Prologis were worth $30,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PLD. Columbia Trust Co 01012016 grew its position in Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 723 shares during the period. Cyndeo Wealth Partners LLC grew its position in Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after buying an additional 11,882 shares during the period. DNB Asset Management AS grew its position in Prologis by 17.1% during the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after buying an additional 42,073 shares during the period. Grassi Investment Management grew its position in Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after buying an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. grew its position in Prologis by 255.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after buying an additional 11,582 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLD. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Barclays dropped their price target on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday. Evercore ISI dropped their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday. Mizuho reiterated a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research report on Tuesday, April 2nd. Finally, UBS Group dropped their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Prologis Price Performance

Shares of PLD stock traded down $2.06 during mid-day trading on Thursday, hitting $104.43. The company had a trading volume of 4,160,962 shares, compared to its average volume of 3,365,360. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock’s 50 day moving average price is $128.99 and its 200-day moving average price is $122.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $96.60 billion, a P/E ratio of 31.56, a P/E/G ratio of 2.29 and a beta of 1.00.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. Prologis’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.68%. Prologis’s dividend payout ratio is presently 116.72%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.