Swedbank AB Acquires 536,487 Shares of Prologis, Inc. $PLD

Swedbank AB lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 10.5% in the 3rd quarter, Holdings Channel reports. The firm owned 5,626,254 shares of the real estate investment trust’s stock after acquiring an additional 536,487 shares during the period. Prologis comprises 0.7% of Swedbank AB’s investment portfolio, making the stock its 27th largest holding. Swedbank AB’s holdings in Prologis were worth $644,319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PLD. Ignite Planners LLC grew its stake in Prologis by 3.2% in the 3rd quarter. Ignite Planners LLC now owns 2,937 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 92 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Prologis by 0.7% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock worth $1,438,000 after acquiring an additional 93 shares during the last quarter. Michael S. Ryan Inc. lifted its holdings in shares of Prologis by 2.9% during the 2nd quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock worth $348,000 after acquiring an additional 94 shares during the last quarter. Stableford Capital II LLC grew its position in Prologis by 0.4% in the third quarter. Stableford Capital II LLC now owns 21,090 shares of the real estate investment trust’s stock worth $2,415,000 after acquiring an additional 94 shares in the last quarter. Finally, Palogic Value Management L.P. increased its stake in Prologis by 4.7% in the second quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 96 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director directly owned 8,208 shares of the company’s stock, valued at $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 1,621 shares of company stock worth $198,655 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Prologis Stock Performance

NYSE:PLD opened at $127.79 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $131.70. The firm has a market cap of $118.70 billion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 3.92 and a beta of 1.40. The business has a 50 day moving average price of $126.24 and a 200-day moving average price of $115.69.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. The company had revenue of $2.21 billion during the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Equities research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, December 16th. Prologis’s dividend payout ratio is 117.78%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLD. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Truist Financial reissued a “buy” rating and set a $131.00 price objective (up from $120.00) on shares of Prologis in a report on Monday, October 20th. UBS Group set a $138.00 target price on Prologis in a research note on Thursday, December 4th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research note on Monday, October 20th. Finally, Mizuho boosted their price objective on shares of Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.88.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.