Handelsbanken Fonder AB Acquires 8,380 Shares of Prologis, Inc. (NYSE:PLD)

Handelsbanken Fonder AB raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 354,686 shares of the real estate investment trust’s stock after purchasing an additional 8,380 shares during the period. Handelsbanken Fonder AB’s holdings in Prologis were worth $44,790,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PLD. Valeo Financial Advisors LLC lifted its position in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Swedbank AB purchased a new stake in Prologis during the 1st quarter valued at $596,614,000. Alphinity Investment Management Pty Ltd purchased a new stake in Prologis during the 1st quarter valued at $465,659,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Prologis during the 2nd quarter valued at $203,223,000. Finally, Vanguard Group Inc. boosted its stake in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after buying an additional 1,460,229 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PLD shares. Wells Fargo & Company upped their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Seven 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Stock Up 0.3 %

Shares of PLD stock traded up $0.38 during mid-day trading on Friday, hitting $122.42. The stock had a trading volume of 2,773,995 shares, compared to its average volume of 3,637,378. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The firm’s 50-day moving average is $125.85 and its two-hundred day moving average is $118.16. The firm has a market capitalization of $113.34 billion, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The business’s revenue was down 18.1% compared to the same quarter last year. On average, analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.14%. Prologis’s dividend payout ratio is presently 112.28%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

About Prologis

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.