KLP Kapitalforvaltning AS Boosts Position in Prologis, Inc. $PLD

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Prologis, Inc. by 6.1%, owning 347,441 shares valued at $36.5 million after acquiring an additional 20,000 shares.
• Several institutional investors have also significantly raised their stakes in Prologis, with First Citizens Bank & Trust Co. increasing its position by an astonishing 1,451.2%.
• Prologis recently announced a quarterly dividend of $1.01 per share, which reflects an annualized yield of 3.5% and a high dividend payout ratio of 109.49%.

KLP Kapitalforvaltning AS raised its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 6.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 347,441 shares of the real estate investment trust's stock after purchasing an additional 20,000 shares during the period. KLP Kapitalforvaltning AS's holdings in Prologis were worth $36,523,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PLD. Brighton Jones LLC increased its position in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. Wedmont Private Capital increased its position in Prologis by 2.8% during the 1st quarter. Wedmont Private Capital now owns 5,530 shares of the real estate investment trust's stock valued at $618,000 after purchasing an additional 153 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Prologis by 5.6% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 4,593 shares of the real estate investment trust's stock valued at $513,000 after purchasing an additional 243 shares during the period. Miracle Mile Advisors LLC increased its position in Prologis by 10.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,719 shares of the real estate investment trust's stock valued at $1,534,000 after purchasing an additional 1,253 shares during the period. Finally, First Citizens Bank & Trust Co. increased its position in Prologis by 1,451.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after purchasing an additional 29,170 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the transaction, the director directly owned 9,329 shares of the company's stock, valued at approximately $1,079,272.01. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the transaction, the chief accounting officer directly owned 414 shares of the company's stock, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $2,952,095 over the last quarter. 0.57% of the stock is owned by company insiders.

Prologis Stock Down 1.0%

NYSE:PLD opened at $115.95 on Wednesday. The company's 50-day simple moving average is $111.36 and its 200-day simple moving average is $107.68. The stock has a market capitalization of $107.63 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.96 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.65.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results 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. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis's dividend payout ratio (DPR) is 109.49%.

Analyst Ratings Changes

A number of research analysts have commented on PLD shares. Mizuho set a $118.00 target price on shares of Prologis and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Weiss Ratings restated a "hold (c)" rating on shares of Prologis in a report on Saturday, September 27th. Citigroup lowered their price target on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.58.

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.

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