MetLife Investment Management LLC Raises Stock Position in Prologis, Inc. (NYSE:PLD)

by · The Markets Daily

MetLife Investment Management LLC lifted its holdings in Prologis, Inc. (NYSE:PLD – Free Report) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 272,299 shares of the real estate investment trust’s stock after buying an additional 3,468 shares during the period. MetLife Investment Management LLC’s holdings in Prologis were worth $28,782,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp bought a new stake in Prologis during the fourth quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new position in shares of Prologis in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter worth approximately $30,000. Promus Capital LLC bought a new position in shares of Prologis during the 4th quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new stake in Prologis during the 4th quarter valued at $34,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $101.89 on Friday. The company’s 50 day moving average is $111.44 and its 200 day moving average is $113.19. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market cap of $94.45 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57.

Prologis (NYSE:PLD – Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Mizuho cut their price target on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Evercore ISI decreased their price objective on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday. Truist Financial upped their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $123.32.

Check Out Our Latest Stock Report on Prologis

Prologis Profile

(Free Report)

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.

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