Handelsbanken Fonder AB Raises Position in Prologis, Inc. (NYSE:PLD)

Handelsbanken Fonder AB increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,236 shares of the real estate investment trust’s stock after buying an additional 49,550 shares during the quarter. Handelsbanken Fonder AB’s holdings in Prologis were worth $42,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Sunpointe LLC raised its position in shares of Prologis by 10.7% in the 4th quarter. Sunpointe LLC now owns 2,429 shares of the real estate investment trust’s stock valued at $257,000 after purchasing an additional 235 shares during the last quarter. Ieq Capital LLC raised its holdings in shares of Prologis by 0.3% in the fourth quarter. Ieq Capital LLC now owns 34,703 shares of the real estate investment trust’s stock worth $3,668,000 after buying an additional 103 shares during the last quarter. TKG Advisors LLC lifted its stake in shares of Prologis by 0.8% during the fourth quarter. TKG Advisors LLC now owns 20,299 shares of the real estate investment trust’s stock worth $2,146,000 after buying an additional 153 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Prologis by 1.6% during the fourth quarter. Global Retirement Partners LLC now owns 17,153 shares of the real estate investment trust’s stock valued at $1,813,000 after buying an additional 263 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Prologis in the 4th quarter valued at $229,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is currently owned by insiders.

Prologis Price Performance

Shares of NYSE PLD opened at $121.76 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The firm has a market cap of $112.77 billion, a PE ratio of 30.44, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The firm has a fifty day moving average of $112.18 and a 200 day moving average of $117.99.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.15%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research reports. Scotiabank lowered their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Mizuho cut their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada boosted their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $128.78.

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.