DnB Asset Management AS Cuts Stock Position in Prologis, Inc. $PLD

Key Points

• DnB Asset Management AS reduced its holdings in Prologis, Inc. by 7.0%, selling 21,108 shares, leaving it with 279,184 shares worth $31.21 million.
• Several institutional investors have increased their positions in Prologis, with Eventide Asset Management raising its stake by 131.1% in the first quarter.
• Prologis recently announced a quarterly dividend of $1.01 per share, with a payout ratio of 109.49%, reflecting a yield of 3.6% based on an annualized basis.

DnB Asset Management AS lessened its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 279,184 shares of the real estate investment trust's stock after selling 21,108 shares during the quarter. DnB Asset Management AS's holdings in Prologis were worth $31,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Activest Wealth Management grew its stake in shares of Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 223 shares during the period. REAP Financial Group LLC grew its stake in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the period. Pandora Wealth Inc. acquired a new stake in shares of Prologis during the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis during the 1st quarter worth approximately $34,000. Finally, Saudi Central Bank acquired a new stake in shares of Prologis during the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Transactions at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer directly owned 414 shares of the company's stock, valued at $46,090.62. The trade was a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PLD shares. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Citigroup decreased their target price on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Mizuho set a $118.00 target price on Prologis and gave the company an "outperform" rating in a research report on Tuesday, August 19th. UBS Group increased their target price on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Scotiabank set a $114.00 target price on Prologis and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $121.83.

Prologis Price Performance

NYSE PLD traded down $0.86 during mid-day trading on Wednesday, hitting $111.11. The stock had a trading volume of 730,927 shares, compared to its average volume of 4,368,930. The firm's 50 day moving average is $108.83 and its 200 day moving average is $108.11. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $103.14 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 2.85 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $1.34 EPS. The company's revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is presently 109.49%.

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.