Skandinaviska Enskilda Banken AB publ Has $19.28 Million Holdings in Prologis, Inc. (NYSE:PLD)

Skandinaviska Enskilda Banken AB publ lessened its stake in Prologis, Inc. (NYSE:PLD) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 183,412 shares of the real estate investment trust’s stock after selling 3,081 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Prologis were worth $19,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Sigma Planning Corp increased its position in Prologis by 5.0% in the 3rd quarter. Sigma Planning Corp now owns 7,809 shares of the real estate investment trust’s stock valued at $986,000 after acquiring an additional 372 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Prologis by 0.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 17,772 shares of the real estate investment trust’s stock valued at $2,244,000 after purchasing an additional 157 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Prologis by 13.2% in the 3rd quarter. Harbour Investments Inc. now owns 3,114 shares of the real estate investment trust’s stock valued at $393,000 after purchasing an additional 364 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of Prologis by 83.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 18,712 shares of the real estate investment trust’s stock worth $2,363,000 after buying an additional 8,502 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Prologis by 1.9% during the third quarter. Oppenheimer & Co. Inc. now owns 61,719 shares of the real estate investment trust’s stock worth $7,794,000 after buying an additional 1,153 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 4.8 %

Prologis stock opened at $110.17 on Friday. The stock has a market capitalization of $102.11 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $133.18. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $116.77 and a 200-day moving average of $117.72.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 101.00%.

Analysts Set New Price Targets

PLD has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Barclays boosted their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. BTIG Research dropped their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Robert W. Baird boosted their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by 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.