Nordea Investment Management AB Acquires 5,187 Shares of Prologis, Inc. $PLD

Nordea Investment Management AB boosted its holdings in Prologis, Inc. (NYSE:PLD) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,647 shares of the real estate investment trust’s stock after buying an additional 5,187 shares during the quarter. Nordea Investment Management AB’s holdings in Prologis were worth $8,731,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management raised its holdings in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 223 shares during the last quarter. Pandora Wealth Inc. purchased a new stake in Prologis in the first quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis in the 1st quarter worth approximately $34,000. Saudi Central Bank purchased a new stake in Prologis during the 1st quarter valued at $41,000. Finally, Olde Wealth Management LLC bought a new position in shares of Prologis during the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $127.33 on Tuesday. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.47. The stock has a market cap of $118.24 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 3.13 and a beta of 1.28. The company’s 50 day moving average is $113.58 and its two-hundred day moving average is $108.28. The company has a current ratio of 0.20, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62.

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

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the sale, the director owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $2,952,095 over the last 90 days. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and raised their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Scotiabank set a $114.00 price target on Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research report on Monday. Citigroup dropped their price objective on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. 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 analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.50.

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.