Prologis, Inc. $PLD Shares Purchased by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB increased its holdings in Prologis, Inc. by 18.4% during the second quarter, now owning 3,449,394 shares valued at approximately $362.9 million.
• Prologis reported earnings per share (EPS) of $1.46 for the last quarter, exceeding estimates and showing an 8.8% increase compared to the previous year.
• The company declared a quarterly dividend of $1.01 per share, with a yield of 3.5%, reflecting a payout ratio of 109.49%.

AMF Tjanstepension AB lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 18.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,449,394 shares of the real estate investment trust's stock after purchasing an additional 535,703 shares during the period. Prologis comprises about 2.4% of AMF Tjanstepension AB's portfolio, making the stock its 14th biggest holding. AMF Tjanstepension AB owned about 0.37% of Prologis worth $362,905,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after purchasing an additional 869,310 shares during the period. Nuveen LLC acquired a new position in shares of Prologis in the 1st quarter valued at $1,456,768,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Prologis by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock valued at $1,173,340,000 after purchasing an additional 93,201 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Prologis by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock valued at $1,113,994,000 after purchasing an additional 1,146,454 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Prologis by 7.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust's stock worth $870,871,000 after acquiring an additional 507,367 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 0.8%

Shares of PLD opened at $117.09 on Friday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.65. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm's fifty day moving average is $111.03 and its two-hundred day moving average is $107.63. The stock has a market cap of $108.69 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 2.93 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the company posted $1.34 EPS. The firm's quarterly revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts forecast 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 was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis's payout ratio is 109.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays cut their price target on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a report on Monday, September 15th. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. UBS Group boosted their price target on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Citigroup cut their price target on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, Scotiabank set a $114.00 price target on shares of Prologis and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.58.

Insider Buying and Selling at Prologis

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

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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.