Swedbank AB Increases Holdings in Prologis, Inc. (NYSE:PLD)

Swedbank AB grew its holdings in Prologis, Inc. (NYSE:PLD) by 1.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,602,779 shares of the real estate investment trust’s stock after acquiring an additional 80,575 shares during the quarter. Prologis comprises 0.6% of Swedbank AB’s investment portfolio, making the stock its 28th biggest holding. Swedbank AB owned about 0.50% of Prologis worth $486,514,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PLD. Empirical Asset Management LLC increased its position in shares of 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 purchasing an additional 52,963 shares in the last quarter. Sunflower Bank N.A. purchased a new stake in Prologis in the third quarter valued at approximately $249,000. Cardano Risk Management B.V. boosted its holdings 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 valued at $94,391,000 after acquiring an additional 25,266 shares during the period. Coronation Fund Managers Ltd. purchased a new position in shares of Prologis during the second quarter worth approximately $878,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after acquiring 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

PLD has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $124.00 to $123.00 in a report on Monday, January 6th. Finally, Truist Financial increased their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $128.72.

Prologis Price Performance

PLD traded up $0.28 during trading on Wednesday, reaching $120.49. 202,436 shares of the stock were exchanged, compared to its average volume of 4,545,927. 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 capitalization of $111.59 billion, a price-to-earnings ratio of 30.11, a P/E/G ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The business’s 50 day moving average price is $110.73 and its two-hundred day moving average price is $118.41.

Prologis Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. Prologis’s payout ratio is 96.00%.

Prologis Company 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.