Lansforsakringar Fondforvaltning AB publ Purchases Shares of 311,351 Prologis, Inc. (NYSE:PLD)

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 311,351 shares of the real estate investment trust's stock, valued at approximately $32,910,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. REAP Financial Group LLC boosted its stake in shares of Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares in the last quarter. Phoenix Financial Ltd. raised its holdings in shares of Prologis by 1.0% in the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after buying an additional 86 shares during the last quarter. Principle Wealth Partners LLC raised its holdings in shares of Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after buying an additional 92 shares during the last quarter. Black Diamond Financial LLC raised its holdings in shares of Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock valued at $449,000 after buying an additional 93 shares during the last quarter. Finally, Berkshire Bank raised its holdings in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after buying an additional 95 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Trading Down 0.5%

NYSE:PLD traded down $0.59 during mid-day trading on Friday, hitting $108.64. The company had a trading volume of 7,261,566 shares, compared to its average volume of 4,165,353. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The business's fifty day moving average is $103.94 and its two-hundred day moving average is $110.56. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm has a market cap of $100.81 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.72%. Prologis's dividend payout ratio (DPR) is currently 101.00%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLD. CJS Securities cut their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Scotiabank upped their price target on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Wells Fargo & Company cut their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Robert W. Baird cut their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Mizuho cut their price target on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.

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.