MetLife Investment Management LLC Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

MetLife Investment Management LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 234,378 shares of the real estate investment trust’s stock after selling 3,798 shares during the quarter. MetLife Investment Management LLC’s holdings in Prologis were worth $28,742,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Prologis by 2.0% during the first quarter. Geode Capital Management LLC now owns 18,463,712 shares of the real estate investment trust’s stock valued at $2,298,310,000 after purchasing an additional 358,431 shares during the period. Bank of America Corp DE grew its holdings in Prologis by 1.3% during the first quarter. Bank of America Corp DE now owns 16,364,345 shares of the real estate investment trust’s stock valued at $2,041,779,000 after purchasing an additional 217,423 shares during the period. Morgan Stanley grew its holdings in Prologis by 48.0% during the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after purchasing an additional 4,729,040 shares during the period. Dimensional Fund Advisors LP grew its holdings in Prologis by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 12,847,534 shares of the real estate investment trust’s stock valued at $1,575,482,000 after purchasing an additional 131,090 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Prologis by 0.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,593,923 shares of the real estate investment trust’s stock valued at $1,571,346,000 after purchasing an additional 113,893 shares during the period. 90.90% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Prologis stock traded up $0.35 during midday trading on Monday, hitting $110.42. 730,305 shares of the company’s stock were exchanged, compared to its average volume of 2,976,351. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $136.67. The stock has a 50-day moving average price of $109.32 and a two-hundred day moving average price of $118.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $102.02 billion, a P/E ratio of 33.97, a PEG ratio of 2.31 and a beta of 1.02.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.04. Prologis had a return on equity of 5.21% and a net margin of 38.24%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The company’s revenue was up 53.8% compared to the same quarter last year. On average, equities research analysts forecast that Prologis, Inc. will post 5.6 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, September 15th. Prologis’s dividend payout ratio (DPR) is currently 107.41%.

Wall Street Analyst Weigh In

PLD has been the subject of several research reports. Evercore ISI reduced their price objective on Prologis from $132.00 to $125.00 in a report on Monday, October 9th. TheStreet cut Prologis from a “b-” rating to a “c+” rating in a research report on Friday, October 20th. Truist Financial reduced their price target on Prologis from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. Mizuho reiterated a “buy” rating and issued a $140.00 price target on shares of Prologis in a research report on Wednesday, September 13th. Finally, StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.60.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 30, 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 (114 million square meters) in 19 countries.