KLP Kapitalforvaltning AS Boosts Position in Prologis, Inc. $PLD

KLP Kapitalforvaltning AS boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 6.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 347,441 shares of the real estate investment trust’s stock after buying an additional 20,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Prologis were worth $36,523,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Michael S. Ryan Inc. raised its position in 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 buying an additional 94 shares during the last quarter. LaSalle St. Investment Advisors LLC increased its holdings in shares of Prologis by 3.7% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 96 shares in the last quarter. Van Hulzen Asset Management LLC increased its holdings in shares of Prologis by 5.6% during the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock valued at $201,000 after purchasing an additional 96 shares in the last quarter. Sandler Capital Management increased its holdings in shares of Prologis by 5.3% during the 1st quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 100 shares in the last quarter. Finally, Sunflower Bank N.A. increased its holdings in shares of Prologis by 3.9% during the 2nd quarter. Sunflower Bank N.A. now owns 2,697 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 100 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE PLD opened at $115.95 on Wednesday. The firm has a market cap of $107.63 billion, a PE ratio of 31.42, a PEG ratio of 2.96 and a beta of 1.28. The firm has a fifty day moving average of $111.36 and a 200 day moving average of $107.68. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s payout ratio is 109.49%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a report on Saturday, September 27th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and lifted their target price for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Evercore ISI lifted their target price on shares of Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Finally, Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.58.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director owned 9,329 shares of the company’s stock, valued at $1,079,272.01. The trade was a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is currently owned by corporate insiders.

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.