Skandinaviska Enskilda Banken AB publ Trims Stock Position in Prologis, Inc. (NYSE:PLD)

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 18.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,418 shares of the real estate investment trust’s stock after selling 43,179 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Prologis were worth $20,824,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PLD. Vanguard Group Inc. increased its position in shares of Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after acquiring an additional 317,815 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Prologis by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after acquiring an additional 365,904 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after acquiring an additional 167,131 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLD. Mizuho decreased their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Scotiabank upped their price objective on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $133.35.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Down 2.4 %

Shares of Prologis stock opened at $125.47 on Friday. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $125.48 and its 200 day moving average is $118.74. The company has a market cap of $116.17 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company earned $1.83 earnings per share. Prologis’s quarterly revenue was down 18.1% compared to the same quarter last year. Research analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.06%. 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.