Handelsbanken Fonder AB Has $42.73 Million Position in Prologis, Inc. (NYSE:PLD)

Handelsbanken Fonder AB lifted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 404,236 shares of the real estate investment trust's stock after purchasing an additional 49,550 shares during the quarter. Handelsbanken Fonder AB's holdings in Prologis were worth $42,728,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. Dunhill Financial LLC lifted its holdings in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 182 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of Prologis during the third quarter worth about $48,000. Coastline Trust Co bought a new position in shares of Prologis during the 3rd quarter valued at about $52,000. Asset Planning Inc acquired a new position in shares of Prologis in the 4th quarter valued at approximately $53,000. Finally, Fortitude Family Office LLC increased its stake in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

Shares of PLD stock traded up $0.20 during midday trading on Monday, hitting $121.17. 1,163,747 shares of the company were exchanged, compared to its average volume of 3,847,688. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The firm has a market capitalization of $112.31 billion, a P/E ratio of 30.34, a PEG ratio of 2.70 and a beta of 1.10. The firm's 50 day moving average price is $112.56 and its two-hundred day moving average price is $117.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.33%. Prologis's dividend payout ratio is 96.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on PLD shares. Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. UBS Group upped their target price on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Monday, January 27th. Finally, BMO Capital Markets downgraded Prologis from a "market perform" rating to an "underperform" rating and cut their price objective for the company from $120.00 to $104.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $128.78.

Prologis 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.