Handelsbanken Fonder AB Purchases 8,380 Shares of Prologis, Inc. (NYSE:PLD)

Handelsbanken Fonder AB raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 354,686 shares of the real estate investment trust's stock after buying an additional 8,380 shares during the period. Handelsbanken Fonder AB's holdings in Prologis were worth $44,790,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. waypoint wealth counsel boosted its position in Prologis by 7.0% in the 3rd quarter. waypoint wealth counsel now owns 2,785 shares of the real estate investment trust's stock valued at $352,000 after buying an additional 181 shares during the last quarter. Thrive Wealth Management LLC bought a new position in Prologis in the 3rd quarter valued at $205,000. Silvia Mccoll Wealth Management LLC boosted its position in Prologis by 3.6% in the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 4,743 shares of the real estate investment trust's stock valued at $599,000 after buying an additional 165 shares during the last quarter. Czech National Bank boosted its position in Prologis by 6.9% in the 3rd quarter. Czech National Bank now owns 188,618 shares of the real estate investment trust's stock valued at $23,819,000 after buying an additional 12,190 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its position in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 28th. Argus raised their price target on Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada lowered Prologis from an "outperform" rating to a "sector perform" rating and raised their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $133.35.

Prologis Stock Up 0.3 %

Shares of PLD traded up $0.38 during midday trading on Friday, hitting $122.42. The stock had a trading volume of 2,773,995 shares, compared to its average volume of 3,637,378. The company has a 50 day simple moving average of $125.85 and a two-hundred day simple moving average of $118.09. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The firm has a market cap of $113.34 billion, a price-to-earnings ratio of 35.80, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business's revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.83 EPS. On average, analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Monday, September 16th. Prologis's dividend payout ratio is currently 112.28%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company 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.