Avanza Fonder AB Purchases Shares of 71,046 Prologis, Inc. (NYSE:PLD)

Avanza Fonder AB acquired a new position in Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 71,046 shares of the real estate investment trust’s stock, valued at approximately $7,510,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the second quarter worth approximately $27,000. Dunhill Financial LLC grew its holdings in shares of 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 purchasing an additional 182 shares during the last quarter. Sunbelt Securities Inc. lifted 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 buying an additional 224 shares in the last quarter. Hara Capital LLC bought a new stake in shares of Prologis during the third quarter worth approximately $48,000. Finally, Coastline Trust Co bought a new position in Prologis during the third quarter worth about $52,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Scotiabank reduced their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Truist Financial lowered their price objective on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $129.06.

Prologis Stock Up 0.1 %

NYSE:PLD opened at $111.00 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The firm’s 50 day simple moving average is $110.53 and its 200 day simple moving average is $118.36. The company has a market cap of $102.80 billion, a PE ratio of 33.53, a P/E/G ratio of 2.85 and a beta of 1.09.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 earnings per share. On average, research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.