Prologis, Inc. (NYSE:PLD) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 393,528 shares of the real estate investment trust's stock after selling 10,708 shares during the period. Handelsbanken Fonder AB's holdings in Prologis were worth $43,992,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Aviva PLC boosted its position in Prologis by 36.6% in the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after buying an additional 186,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after acquiring an additional 179,880 shares during the last quarter. Allstate Corp boosted its position in shares of Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after purchasing an additional 39,321 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after acquiring an additional 334,907 shares during the period. Finally, Banco Santander S.A. grew its position in Prologis by 88.0% during the 4th quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust's stock worth $495,000 after purchasing an additional 2,192 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on PLD shares. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Evercore ISI cut their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets decreased their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. CJS Securities dropped their price objective on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Finally, Robert W. Baird cut their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and an average price target of $120.42.

Prologis Price Performance

Shares of PLD stock traded up $0.57 during trading hours on Tuesday, hitting $109.50. The company's stock had a trading volume of 3,771,649 shares, compared to its average volume of 4,145,479. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $103.61 and a 200-day moving average of $110.31. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The stock has a market cap of $101.61 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last announced its 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. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.69%. Prologis's dividend payout ratio (DPR) is 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.