Forsta AP Fonden Sells 9,900 Shares of Prologis, Inc. (NYSE:PLD)

Forsta AP Fonden lowered its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,223 shares of the real estate investment trust's stock after selling 9,900 shares during the quarter. Forsta AP Fonden's holdings in Prologis were worth $21,375,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PLD. Coronation Fund Managers Ltd. purchased a new position in Prologis during the 2nd quarter worth $878,000. Creative Planning boosted its holdings in Prologis by 1.7% during the 2nd quarter. Creative Planning now owns 84,644 shares of the real estate investment trust's stock worth $9,506,000 after acquiring an additional 1,401 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Prologis by 16.6% during the 2nd quarter. NewEdge Advisors LLC now owns 75,000 shares of the real estate investment trust's stock worth $8,423,000 after acquiring an additional 10,687 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Prologis by 1.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 56,554 shares of the real estate investment trust's stock worth $6,352,000 after acquiring an additional 749 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 224 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of PLD traded down $0.86 during midday trading on Wednesday, hitting $119.35. 2,758,130 shares of the company traded hands, compared to its average volume of 4,691,180. The stock has a 50-day moving average of $110.73 and a 200-day moving average of $118.41. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The firm has a market cap of $110.53 billion, a P/E ratio of 29.84, a PEG ratio of 3.19 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Monday, December 16th. Prologis's dividend payout ratio is presently 96.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird raised shares of Prologis from a "neutral" rating to an "outperform" rating and cut their price target for the stock from $124.00 to $123.00 in a report on Monday, January 6th. The Goldman Sachs Group reissued a "neutral" rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. JPMorgan Chase & Co. cut their price target on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. UBS Group boosted their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Royal Bank of Canada boosted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $128.72.

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.