Handelsbanken Fonder AB Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Handelsbanken Fonder AB lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 14.0% during the 4th quarter, HoldingsChannel reports. The firm 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 hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dunhill Financial LLC grew its holdings in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Hara Capital LLC acquired a new position in shares of Prologis during the 3rd quarter valued at about $48,000. Coastline Trust Co acquired a new stake in Prologis during the third quarter worth about $52,000. Fortitude Family Office LLC raised its stake in Prologis by 120.6% during the third 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 during the period. Finally, Asset Planning Inc acquired a new position in Prologis in the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by insiders.

Prologis Price Performance

Shares of NYSE PLD opened at $121.76 on Thursday. The stock’s 50-day moving average is $112.18 and its two-hundred day moving average is $117.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The company has a market cap of $112.77 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.15%. Prologis’s dividend payout ratio is currently 96.00%.

Analyst Ratings Changes

PLD has been the subject of a number of recent analyst reports. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, UBS Group increased their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.