Prologis, Inc. $PLD Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 10.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 92,472 shares of the real estate investment trust’s stock after purchasing an additional 8,825 shares during the period. Nordea Investment Management AB’s holdings in Prologis were worth $10,480,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Clayton Financial Group LLC acquired a new stake in Prologis in the 3rd quarter valued at about $26,000. Silver Oak Securities Incorporated purchased a new stake in shares of Prologis during the third quarter worth approximately $36,000. Barrett & Company Inc. purchased a new stake in shares of Prologis during the second quarter worth approximately $44,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Prologis in the second quarter valued at approximately $44,000. Finally, SJS Investment Consulting Inc. purchased a new position in Prologis in the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In related news, Director James B. Connor sold 80,000 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $126.58, for a total transaction of $10,126,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the transaction, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. The trade was a 7.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 81,121 shares of company stock valued at $10,267,210 over the last three months. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. UBS Group increased their price objective on shares of Prologis from $137.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Prologis in a research note on Monday, December 29th. Truist Financial reissued a “buy” rating and issued a $131.00 target price (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Industrial Alliance Securities set a $119.00 price target on Prologis in a report on Monday, October 20th. Finally, Evercore ISI upped their price objective on Prologis from $116.00 to $118.00 in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $132.31.

Prologis Stock Performance

NYSE PLD opened at $133.21 on Friday. The company has a fifty day moving average of $127.86 and a two-hundred day moving average of $118.41. The company has a market capitalization of $123.74 billion, a PE ratio of 38.84, a P/E/G ratio of 3.89 and a beta of 1.40. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $134.94. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. The business had revenue of $2.21 billion for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. As a group, analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a $1.01 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.0%. Prologis’s payout ratio is currently 117.78%.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.