Prologis, Inc. (NYSE:PLD) Stock Position Lifted by AMF Tjanstepension AB

AMF Tjanstepension AB boosted its stake in Prologis, Inc. (NYSE:PLD) by 13.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,299,443 shares of the real estate investment trust’s stock after buying an additional 278,964 shares during the quarter. Prologis makes up about 2.3% of AMF Tjanstepension AB’s holdings, making the stock its 12th biggest position. AMF Tjanstepension AB’s holdings in Prologis were worth $299,602,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in Prologis during the fourth quarter worth $27,000. Optimum Investment Advisors bought a new position in shares of Prologis in the 1st quarter valued at approximately $26,000. Thompson Investment Management Inc. acquired a new stake in Prologis in the 4th quarter worth approximately $28,000. JFS Wealth Advisors LLC boosted its position in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 168 shares during the period. Finally, Clear Investment Research LLC grew its holdings in Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 158 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on PLD. Evercore ISI cut their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada lowered their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a report on Friday, June 21st. UBS Group lowered their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.76.

Prologis Trading Up 0.9 %

NYSE:PLD traded up $0.99 during trading hours on Friday, hitting $112.34. 5,436,334 shares of the stock were exchanged, compared to its average volume of 3,765,638. The company has a market capitalization of $104.01 billion, a P/E ratio of 32.85, a price-to-earnings-growth ratio of 2.46 and a beta of 1.07. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $108.14 and its two-hundred day moving average is $121.83. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Monday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Prologis 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.