Swedbank AB Decreases Holdings in Prologis, Inc. (NYSE:PLD)

Swedbank AB lowered its position in Prologis, Inc. (NYSE:PLD) by 9.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,522,204 shares of the real estate investment trust’s stock after selling 480,070 shares during the quarter. Prologis makes up approximately 0.7% of Swedbank AB’s portfolio, making the stock its 26th biggest position. Swedbank AB owned about 0.49% of Prologis worth $571,064,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Optimum Investment Advisors bought a new stake in shares of Prologis in the 1st quarter worth approximately $26,000. American Capital Advisory LLC bought a new stake in Prologis in the second quarter worth $26,000. Semmax Financial Advisors Inc. bought a new stake in Prologis in the second quarter worth $27,000. Central Valley Advisors LLC purchased a new stake in Prologis during the second quarter valued at about $29,000. Finally, Sunbelt Securities Inc. grew its stake in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America restated a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Evercore ISI raised their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note 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. Finally, Barclays cut their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $132.71.

Prologis Stock Up 1.3 %

PLD stock traded up $1.57 during midday trading on Tuesday, hitting $122.03. The company’s stock had a trading volume of 2,566,409 shares, compared to its average volume of 3,609,468. The firm’s 50-day moving average is $125.26 and its 200-day moving average is $117.72. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a market cap of $112.98 billion, a PE ratio of 35.25, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business 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. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. On average, equities research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.15%. Prologis’s dividend payout ratio is presently 112.28%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

Prologis 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.