Livforsakringsbolaget Skandia Omsesidigt Purchases 1,039 Shares of Prologis, Inc. (NYSE:PLD)

Livforsakringsbolaget Skandia Omsesidigt increased its position in Prologis, Inc. (NYSE:PLD) by 80.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,323 shares of the real estate investment trust’s stock after purchasing an additional 1,039 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Prologis were worth $310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after buying an additional 1,034,211 shares during the last quarter. FMR LLC grew its stake in Prologis by 1.2% during the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after buying an additional 197,693 shares during the last quarter. Morgan Stanley lifted its position in shares of Prologis by 48.0% during the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after purchasing an additional 4,729,040 shares in the last quarter. Northern Trust Corp lifted its position in shares of Prologis by 0.7% during the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after purchasing an additional 92,036 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Prologis by 2.3% during the third quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after purchasing an additional 268,667 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLD has been the topic of a number of research reports. Raymond James upped their target price on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Robert W. Baird upped their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Mizuho restated a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. Royal Bank of Canada increased their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Barclays cut their price objective on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.27.

Prologis Stock Down 1.2 %

Shares of PLD stock traded down $1.29 during trading hours on Thursday, hitting $105.20. 841,097 shares of the company were exchanged, compared to its average volume of 3,315,567. The business has a 50 day moving average of $128.99 and a two-hundred day moving average of $122.19. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a market capitalization of $97.32 billion, a PE ratio of 32.37, a PEG ratio of 2.29 and a beta of 1.00.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the business posted $1.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts anticipate that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is 116.72%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.