Forsta AP Fonden Sells 5,100 Shares of Prologis, Inc. $PLD

Forsta AP Fonden lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 225,723 shares of the real estate investment trust’s stock after selling 5,100 shares during the quarter. Forsta AP Fonden’s holdings in Prologis were worth $23,728,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Activest Wealth Management boosted its holdings in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 223 shares during the last quarter. Pandora Wealth Inc. bought a new position in shares of Prologis during the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new position in shares of Prologis during the 1st quarter valued at $34,000. Saudi Central Bank purchased a new position in shares of Prologis in the 1st quarter worth $41,000. Finally, Barrett & Company Inc. bought a new stake in shares of Prologis in the second quarter worth $44,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Down 1.1%

PLD stock opened at $124.87 on Thursday. The business’s 50-day moving average price is $118.73 and its 200-day moving average price is $111.49. The stock has a market cap of $115.98 billion, a P/E ratio of 36.40, a PEG ratio of 3.13 and a beta of 1.29. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.50.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm posted $1.43 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given 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 was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PLD. Mizuho set a $118.00 price objective on Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Truist Financial reiterated a “buy” rating and issued a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. UBS Group set a $133.00 price objective on shares of Prologis in a report on Monday. Finally, Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and boosted their target price for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $125.39.

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.