Prologis, Inc. (NYSE:PLD) Stock Holdings Lifted by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in Prologis, Inc. (NYSE:PLD) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 359,324 shares of the real estate investment trust’s stock after buying an additional 4,438 shares during the period. Handelsbanken Fonder AB’s holdings in Prologis were worth $47,898,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PLD. Massachusetts Financial Services Co. MA raised its stake in Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after purchasing an additional 1,034,211 shares during the period. FMR LLC raised its stake in Prologis by 1.2% during the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after purchasing an additional 197,693 shares during the period. Morgan Stanley raised its stake in Prologis by 48.0% during the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after purchasing an additional 4,729,040 shares during the period. Northern Trust Corp increased its stake in shares of Prologis by 0.7% in the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after acquiring an additional 92,036 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Prologis by 2.3% in the third quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after acquiring an additional 268,667 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of a number of research reports. Royal Bank of Canada upped their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Mizuho reaffirmed a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. Evercore ISI dropped their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday. BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $145.00 to $112.00 in a research note on Monday. Finally, UBS Group dropped their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.13.

Prologis Trading Down 1.1 %

Shares of NYSE:PLD opened at $103.49 on Monday. The company has a market cap of $95.73 billion, a P/E ratio of 30.26, a P/E/G ratio of 2.08 and a beta of 1.00. The stock’s 50-day moving average is $127.87 and its 200-day moving average is $122.22. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.