Sun Life Financial Inc. Sells 147,835 Shares of Prologis, Inc. (NYSE:PLD)

Sun Life Financial Inc. decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 40.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 220,524 shares of the real estate investment trust’s stock after selling 147,835 shares during the quarter. Prologis accounts for 1.6% of Sun Life Financial Inc.’s holdings, making the stock its 14th largest position. Sun Life Financial Inc.’s holdings in Prologis were worth $27,848,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Arbor Capital Management Inc. ADV lifted its position in Prologis by 0.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares during the period. CX Institutional lifted its holdings in shares of Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after acquiring an additional 88 shares during the period. Mitchell Sinkler & Starr PA lifted its holdings in shares of Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 90 shares during the period. Destination Wealth Management boosted its position in shares of Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 92 shares in the last quarter. Finally, DT Investment Partners LLC increased its stake in Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 93 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLD. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. Barclays decreased their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Argus increased their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Bank of America restated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Finally, Scotiabank dropped their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Up 0.2 %

NYSE PLD opened at $117.79 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 52 week low of $96.96 and a 52 week high of $137.52. The stock has a market capitalization of $109.06 billion, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The stock has a fifty day moving average of $125.06 and a 200-day moving average of $117.41.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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 4.88% and a net margin of 36.37%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.26%. Prologis’s dividend payout ratio is currently 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.