Prologis, Inc. (NYSE:PLD) Shares Purchased by Tredje AP fonden

Tredje AP fonden lifted its holdings in Prologis, Inc. (NYSE:PLD) by 68.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 391,625 shares of the real estate investment trust’s stock after acquiring an additional 159,356 shares during the quarter. Tredje AP fonden’s holdings in Prologis were worth $41,395,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLD. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the fourth quarter worth $30,000. Dunhill Financial LLC increased its stake in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Prologis in the fourth quarter worth $34,000. Promus Capital LLC acquired a new stake in shares of Prologis in the fourth quarter worth $34,000. Finally, Coastline Trust Co acquired a new stake in shares of Prologis in the third quarter worth $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PLD shares. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Barclays increased their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. UBS Group increased their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Scotiabank lowered their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Finally, Robert W. Baird increased their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

Shares of NYSE PLD opened at $115.70 on Thursday. The firm has a 50-day simple moving average of $116.65 and a 200-day simple moving average of $117.78. The stock has a market capitalization of $107.23 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. 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 $135.27.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is 101.00%.

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.