E. Ohman J or Asset Management AB Grows Stake in Prologis, Inc. (NYSE:PLD)

E. Ohman J or Asset Management AB increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 314,021 shares of the real estate investment trust’s stock after acquiring an additional 9,060 shares during the period. Prologis comprises approximately 1.0% of E. Ohman J or Asset Management AB’s portfolio, making the stock its 27th biggest holding. E. Ohman J or Asset Management AB’s holdings in Prologis were worth $39,655,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Nicholson Wealth Management Group LLC purchased a new stake in shares of Prologis during the third quarter worth about $583,000. Values First Advisors Inc. purchased a new stake in shares of Prologis during the third quarter worth about $169,000. DT Investment Partners LLC grew its position in shares of Prologis by 9.8% during the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 93 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Prologis by 14.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 28,534 shares of the real estate investment trust’s stock valued at $3,603,000 after buying an additional 3,614 shares in the last quarter. Finally, Yoder Wealth Management Inc. grew its holdings in Prologis by 4.0% during the 3rd quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock opened at $120.39 on Friday. 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 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $111.46 billion, a P/E ratio of 35.20, a P/E/G ratio of 3.05 and a beta of 1.07. The stock has a 50 day moving average price of $125.26 and a 200 day moving average price of $117.54.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the business posted $1.30 earnings per share. Prologis’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays cut their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. BMO Capital Markets restated a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday. Finally, Scotiabank raised their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.47.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

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.