Skandinaviska Enskilda Banken AB publ lessened its stake in Prologis, Inc. (NYSE:PLD) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 151,588 shares of the real estate investment trust’s stock after selling 7,340 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Prologis were worth $18,119,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PLD. Eagle Bay Advisors LLC purchased a new position in Prologis in the second quarter worth approximately $26,000. Logan Capital Management Inc. purchased a new position in Prologis in the first quarter worth approximately $29,000. Meridian Wealth Partners LLC grew its position in Prologis by 70.3% in the first quarter. Meridian Wealth Partners LLC now owns 441 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 182 shares during the period. Tompkins Financial Corp grew its position in Prologis by 1,592.9% in the first quarter. Tompkins Financial Corp now owns 474 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 446 shares during the period. Finally, Summit Wealth Group LLC purchased a new position in Prologis in the first quarter worth approximately $56,000. 93.04% of the stock is owned by hedge funds and other institutional investors.
PLD has been the subject of several research analyst reports. BMO Capital Markets raised their price target on Prologis from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, July 26th. Truist raised their price target on Prologis from $123.00 to $137.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. Morgan Stanley raised their price target on Prologis from $120.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, July 15th. Raymond James raised their price target on Prologis from $138.00 to $143.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 21st. Finally, Robert W. Baird raised their price target on Prologis from $108.00 to $124.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 20th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $135.20.
Prologis (NYSE:PLD) last released its earnings results on Sunday, July 18th. The real estate investment trust reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.37. Prologis had a net margin of 34.54% and a return on equity of 4.27%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. Equities analysts forecast that Prologis, Inc. will post 4.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 17th will be paid a $0.63 dividend. The ex-dividend date is Thursday, September 16th. This represents a $2.52 annualized dividend and a yield of 1.90%. Prologis’s dividend payout ratio is currently 66.32%.
Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.
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