Forsta AP Fonden Has $20.69 Million Stake in Prologis, Inc. (NYSE:PLD)

Forsta AP Fonden reduced its holdings in Prologis, Inc. (NYSE:PLD) by 7.5% during the 2nd quarter, Holdings Channel reports. The fund owned 184,223 shares of the real estate investment trust’s stock after selling 15,000 shares during the quarter. Forsta AP Fonden’s holdings in Prologis were worth $20,690,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Optimum Investment Advisors acquired a new position in Prologis in the first quarter worth $26,000. American Capital Advisory LLC bought a new stake in Prologis during the 2nd quarter worth about $26,000. True Wealth Design LLC acquired a new stake in Prologis in the 4th quarter valued at about $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis in the second quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the second quarter worth approximately $31,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PLD shares. Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Barclays boosted their target price on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI raised their price target on Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. The Goldman Sachs Group lifted their price objective on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $133.12.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Prologis Stock Performance

Shares of Prologis stock opened at $130.69 on Thursday. The stock’s fifty day simple moving average is $123.77 and its 200 day simple moving average is $118.88. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $121.00 billion, a PE ratio of 38.21, a PEG ratio of 3.27 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business earned $1.83 EPS. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. On average, research analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.