Skandinaviska Enskilda Banken AB publ Trims Stock Holdings in Prologis, Inc. (NYSE:PLD)

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 18.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,418 shares of the real estate investment trust’s stock after selling 43,179 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Prologis were worth $20,824,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PLD. AE Wealth Management LLC lifted its holdings in Prologis by 16.6% during the second quarter. AE Wealth Management LLC now owns 192,874 shares of the real estate investment trust’s stock valued at $21,662,000 after purchasing an additional 27,421 shares in the last quarter. King Luther Capital Management Corp lifted its stake in shares of Prologis by 48.9% during the 2nd quarter. King Luther Capital Management Corp now owns 22,202 shares of the real estate investment trust’s stock valued at $2,494,000 after buying an additional 7,287 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in Prologis by 508.8% in the 2nd quarter. Bridges Investment Management Inc. now owns 132,325 shares of the real estate investment trust’s stock worth $14,861,000 after buying an additional 110,590 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Prologis by 12.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,237,322 shares of the real estate investment trust’s stock worth $475,894,000 after buying an additional 477,785 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Prologis by 81.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 14,750 shares of the real estate investment trust’s stock valued at $1,656,000 after acquiring an additional 6,611 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLD has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Wells Fargo & Company lifted their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Scotiabank upped their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Finally, Morgan Stanley raised their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $133.35.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Trading Down 2.4 %

PLD opened at $125.47 on Friday. The stock has a 50-day moving average of $125.48 and a 200 day moving average of $118.74. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The firm has a market cap of $116.17 billion, a P/E ratio of 36.69, a P/E/G ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.83 EPS. As a group, research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

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.