Prologis, Inc. $PLD Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Prologis, Inc. by 17.3%, now holding about $15.41 million worth of shares after selling 28,900 shares in the first quarter.
• Prologis stock has experienced mixed ratings from analysts, with price targets ranging from $100 to $137, and an average rating classified as a "Moderate Buy."
• The company reported $1.46 earnings per share for the last quarter, exceeding analysts' expectations and showcasing a year-over-year revenue increase of 8.8%.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 17.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,836 shares of the real estate investment trust's stock after selling 28,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Prologis were worth $15,409,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Prologis in the first quarter valued at approximately $1,456,768,000. Northern Trust Corp increased its position in shares of Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after buying an additional 4,893,284 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Prologis by 282.5% in the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock valued at $433,229,000 after buying an additional 2,862,183 shares in the last quarter. Capital Research Global Investors raised its position in Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after acquiring an additional 2,500,761 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Prologis by 83.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after acquiring an additional 1,723,129 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 0.6%

Shares of PLD traded up $0.68 during mid-day trading on Friday, reaching $106.53. The company had a trading volume of 1,924,191 shares, compared to its average volume of 3,559,894. The company has a market capitalization of $98.87 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a 50-day moving average price of $107.13 and a 200 day moving average price of $109.02. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

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 for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $1.34 EPS. Prologis's quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PLD shares. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Truist Financial dropped their target price on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Citigroup cut their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. UBS Group lifted their price objective on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and an average price target of $120.33.

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.