Tredje AP fonden Has $56.62 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Key Points

• Tredje AP fonden increased its holdings in Prologis, Inc. by 29.3%, owning a total of 506,480 shares valued at approximately $56.6 million as of the latest filing.
• Prologis reported a quarterly EPS of $1.46, exceeding analyst estimates of $1.41, with revenues of $2.03 billion.
• The company declared a quarterly dividend of $1.01 per share, contributing to an annualized dividend yield of 3.68%.

Tredje AP fonden grew its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 29.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 506,480 shares of the real estate investment trust's stock after purchasing an additional 114,855 shares during the period. Tredje AP fonden owned approximately 0.05% of Prologis worth $56,619,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cohen & Steers Inc. grew its holdings in Prologis by 3.2% during the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after acquiring an additional 882,529 shares during the period. Geode Capital Management LLC lifted its holdings in Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after acquiring an additional 610,251 shares during the last quarter. FMR LLC boosted its position in shares of Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after purchasing an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Down 1.7%

NYSE PLD traded down $1.86 during trading on Friday, reaching $104.92. The company's stock had a trading volume of 6,122,816 shares, compared to its average volume of 4,380,032. The business has a 50-day moving average price of $107.57 and a 200-day moving average price of $109.80. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The stock has a market capitalization of $97.37 billion, a PE ratio of 28.43, a PEG ratio of 2.68 and a beta of 1.21. The company has a current ratio of 0.65, a quick ratio of 0.41 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. The firm 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 in the prior year, the company posted $1.34 earnings per share. On average, research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.9%. Prologis's dividend payout ratio is currently 109.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLD. Barclays cut their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Royal Bank Of Canada reduced their target price on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Robert W. Baird decreased their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Scotiabank boosted their price objective on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Finally, BMO Capital Markets reduced their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $120.74.

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.