Skandinaviska Enskilda Banken AB publ Purchases 82,943 Shares of Prologis, Inc. (NYSE:PLD)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 54.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,531 shares of the real estate investment trust’s stock after buying an additional 82,943 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Prologis were worth $29,417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bridgewater Associates LP purchased a new stake in shares of Prologis during the 2nd quarter worth $1,358,000. abrdn plc lifted its stake in shares of Prologis by 20.0% during the 2nd quarter. abrdn plc now owns 1,713,019 shares of the real estate investment trust’s stock worth $204,757,000 after purchasing an additional 285,900 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Prologis by 89.9% during the 2nd quarter. Bank of Montreal Can now owns 2,910,616 shares of the real estate investment trust’s stock worth $354,018,000 after purchasing an additional 1,377,517 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Prologis by 55.2% during the 3rd quarter. Private Advisor Group LLC now owns 60,430 shares of the real estate investment trust’s stock worth $7,581,000 after purchasing an additional 21,499 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in shares of Prologis by 11.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,417,602 shares of the real estate investment trust’s stock worth $287,894,000 after purchasing an additional 255,152 shares during the last quarter. 92.23% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director William D. Zollars sold 1,380 shares of Prologis stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $146.20, for a total transaction of $201,756.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Hamid R. Moghadam sold 14,355 shares of Prologis stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $144.64, for a total value of $2,076,307.20. The disclosure for this sale can be found here. Insiders sold 323,335 shares of company stock worth $46,681,516 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.

PLD traded up $1.66 during trading on Wednesday, hitting $154.65. The company’s stock had a trading volume of 13,358 shares, compared to its average volume of 3,547,292. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.47. Prologis, Inc. has a twelve month low of $93.08 and a twelve month high of $169.93. The business’s fifty day simple moving average is $156.11 and its 200 day simple moving average is $140.12. The firm has a market capitalization of $114.34 billion, a price-to-earnings ratio of 57.73, a P/E/G ratio of 5.07 and a beta of 0.81.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Thursday, October 14th. The real estate investment trust reported $0.97 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.06). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Prologis had a net margin of 42.95% and a return on equity of 5.42%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. As a group, equities research analysts forecast that Prologis, Inc. will post 4.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Tuesday, December 14th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Monday, December 13th. Prologis’s dividend payout ratio is presently 95.09%.

PLD has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded Prologis from a “buy” rating to a “conviction-buy” rating and increased their price target for the company from $166.00 to $180.00 in a research note on Thursday, October 21st. Barclays increased their price target on Prologis from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Tuesday, October 19th. Truist increased their price target on Prologis from $137.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, October 25th. They noted that the move was a valuation call. Morgan Stanley increased their price target on Prologis from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, December 15th. Finally, Royal Bank of Canada increased their price target on Prologis from $144.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $152.07.

Prologis Company Profile

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

See Also: Convertible Shares

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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