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

Forsta AP Fonden lowered its holdings in Prologis, Inc. (NYSE:PLD) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,223 shares of the real estate investment trust’s stock after selling 9,900 shares during the period. Forsta AP Fonden’s holdings in Prologis were worth $21,375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Empirical Asset Management LLC grew its position in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares in the last quarter. Sunflower Bank N.A. acquired a new stake in shares of Prologis during the 3rd quarter worth $249,000. Cardano Risk Management B.V. increased its position in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares during the period. Coronation Fund Managers Ltd. acquired a new position in Prologis in the second quarter valued at about $878,000. Finally, DekaBank Deutsche Girozentrale lifted its position in Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after purchasing an additional 29,400 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PLD shares. Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. UBS Group upped their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada lifted their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $124.00 to $123.00 in a report on Monday, January 6th. Finally, Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.72.

Prologis Stock Down 0.8 %

Shares of NYSE:PLD opened at $120.23 on Wednesday. The firm has a market cap of $111.35 billion, a P/E ratio of 30.06, a P/E/G ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The business has a fifty day simple moving average of $110.73 and a 200 day simple moving average of $118.41. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

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.