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

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in Prologis, Inc. (NYSE:PLD) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,736 shares of the real estate investment trust’s stock after selling 3,500 shares during the period. 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 & Exchange Commission.

Several other large investors have also modified their holdings of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after buying an additional 2,138,693 shares during the period. AMF Tjanstepension AB raised its holdings in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares during the period. Cardano Risk Management B.V. purchased a new stake in shares of Prologis in the 3rd quarter valued at $109,579,000. Finally, Jennison Associates LLC raised its holdings in shares of Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock valued at $109,858,000 after buying an additional 829,504 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Up 0.1 %

Shares of NYSE PLD opened at $121.01 on Friday. The stock has a market cap of $112.16 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The business has a 50-day moving average price of $112.56 and a 200 day moving average price of $118.01.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.34%. Prologis’s dividend payout ratio is 96.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PLD. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $120.00 to $104.00 in a report on Friday, December 6th. Mizuho cut their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Wolfe Research cut their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Scotiabank cut their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, Prologis currently has an average 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.