Prologis, Inc. (NYSE:PLD) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,736 shares of the real estate investment trust’s stock after selling 3,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Prologis were worth $17,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. ASB Consultores LLC boosted its holdings in shares of Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 86 shares during the last quarter. Principle Wealth Partners LLC boosted its holdings in shares of Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 92 shares during the last quarter. Carmel Capital Partners LLC boosted its holdings in shares of Prologis by 2.6% during the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 94 shares during the last quarter. Berkshire Bank boosted its holdings in shares of Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 95 shares during the last quarter. Finally, HM Payson & Co. boosted its holdings in shares of Prologis by 20.4% during the third quarter. HM Payson & Co. now owns 589 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 100 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of PLD stock opened at $121.01 on Friday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The firm has a market capitalization of $112.16 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The business has a 50 day simple moving average of $112.56 and a 200 day simple moving average of $118.01. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Mizuho reduced their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

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.