E. Ohman J or Asset Management AB Increases Holdings in Prologis, Inc. (NYSE:PLD)

E. Ohman J or Asset Management AB increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 19.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 323,855 shares of the real estate investment trust's stock after buying an additional 52,654 shares during the quarter. Prologis accounts for approximately 1.0% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 27th largest position. E. Ohman J or Asset Management AB's holdings in Prologis were worth $36,204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in Prologis in the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. bought a new stake in Prologis in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new stake in Prologis in the fourth quarter valued at approximately $30,000. REAP Financial Group LLC boosted its holdings 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 acquiring an additional 84 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Prologis in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

PLD has been the topic of several analyst reports. Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Scotiabank increased their price target on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Morgan Stanley cut their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada lowered their target price on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Finally, Truist Financial lowered 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. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.42.

Prologis Stock Up 1.0%

NYSE PLD traded up $1.09 on Friday, reaching $108.91. The company had a trading volume of 3,644,410 shares, compared to its average volume of 4,153,995. The stock has a market capitalization of $101.06 billion, a P/E ratio of 27.23, a P/E/G ratio of 2.70 and a beta of 1.25. The company's fifty day moving average is $103.68 and its 200 day moving average is $110.41. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.99 billion. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

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.