Tredje AP fonden Grows Position in Prologis, Inc. (NYSE:PLD)

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

Other large investors also recently added to or reduced their stakes in the company. Empirical Asset Management LLC boosted its position in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares during the period. Cardano Risk Management B.V. boosted its position in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after buying an additional 25,266 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in Prologis in the 3rd quarter valued at about $1,051,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Prologis in the 3rd quarter valued at about $7,371,000. Finally, The Manufacturers Life Insurance Company boosted its position in Prologis by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock valued at $92,048,000 after buying an additional 9,147 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 1.3 %

Shares of Prologis stock opened at $115.70 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.27. The firm has a market capitalization of $107.23 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 2.70 and a beta of 1.09. The firm’s 50 day simple moving average is $116.65 and its two-hundred day simple moving average is $117.78.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.49%. Prologis’s dividend payout ratio is presently 101.00%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on PLD shares. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Scotiabank lowered their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. Finally, Barclays upped their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.