Avanza Fonder AB Decreases Stake in Prologis, Inc. (NYSE:PLD)

Avanza Fonder AB cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,465 shares of the real estate investment trust's stock after selling 5,581 shares during the quarter. Avanza Fonder AB's holdings in Prologis were worth $7,354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new position in Prologis during the fourth quarter worth about $26,000. Crowley Wealth Management Inc. bought a new position in shares of Prologis during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter worth approximately $30,000. 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 worth $31,000 after buying an additional 84 shares during the last quarter. Finally, Promus Capital LLC bought a new position in shares of Prologis in the fourth quarter valued at approximately $34,000. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of recent analyst reports. Scotiabank lifted their price target on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Wells Fargo & Company lowered their target price on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Royal Bank of Canada reduced their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Wall Street Zen raised shares of Prologis from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Evercore ISI dropped their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.42.

Prologis Price Performance

Shares of Prologis stock traded up $0.57 during trading on Tuesday, hitting $109.50. 3,771,649 shares of the stock traded hands, compared to its average volume of 4,145,479. The stock has a market cap of $101.61 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 2.70 and a beta of 1.25. 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 $85.35 and a 52 week high of $132.57. The firm's fifty day moving average is $103.61 and its 200-day moving average is $110.31.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

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 paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.69%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

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.