Forsta AP Fonden Acquires 28,600 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Forsta AP Fonden increased its stake in Prologis, Inc. by 14.1%, holding 230,823 shares valued at approximately $25.80 million by the end of the last quarter.
• Several institutional investors have also significantly raised their positions in Prologis, with Northern Trust Corp's stake increasing by 54.6% and Valeo Financial Advisors LLC's by 282.5%.
• Brokerage firms have adjusted their price targets for Prologis, with the average target now at $120.74 and a consensus rating of "Moderate Buy" from analysts.

Forsta AP Fonden increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 230,823 shares of the real estate investment trust's stock after acquiring an additional 28,600 shares during the quarter. Forsta AP Fonden's holdings in Prologis were worth $25,804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. REAP Financial Group LLC boosted its position in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares in the last quarter. Phoenix Financial Ltd. increased its holdings in 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 purchasing an additional 86 shares during the last quarter. LaSalle St. Investment Advisors LLC increased its holdings in Prologis by 3.7% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock valued at $300,000 after purchasing an additional 96 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after purchasing an additional 100 shares during the last quarter. Finally, Focus Financial Network Inc. increased its holdings in Prologis by 5.2% in the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock valued at $234,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

Prologis stock traded down $0.54 during mid-day trading on Friday, reaching $105.75. 1,841,649 shares of the company were exchanged, compared to its average volume of 4,591,499. The company has a fifty day simple moving average of $107.43 and a 200-day simple moving average of $109.59. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. 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 firm has a market cap of $98.14 billion, a PE ratio of 28.66, a PEG ratio of 2.65 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 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 firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company earned $1.34 EPS. The company's revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLD has been the subject of a number of recent analyst reports. CJS Securities dropped their price objective on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Royal Bank Of Canada lowered their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Barclays lowered their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Evercore ISI lowered their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Finally, Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and an average price target of $120.74.

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.