California State Teachers Retirement System Reduces Holdings in Prologis, Inc. (NYSE:PLD)

California State Teachers Retirement System lowered its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,487,110 shares of the real estate investment trust's stock after selling 16,361 shares during the period. California State Teachers Retirement System owned 0.16% of Prologis worth $157,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the 4th quarter worth $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in shares of Prologis in the 4th quarter valued at about $30,000. Promus Capital LLC purchased a new position in shares of Prologis in the 4th quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Prologis during the 4th quarter worth approximately $34,000. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Robert W. Baird upped their price target on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Morgan Stanley dropped their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. CJS Securities decreased their price objective on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Finally, Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.05.

Prologis Stock Performance

PLD stock traded up $0.95 during midday trading on Thursday, hitting $103.15. 3,955,563 shares of the stock traded hands, compared to its average volume of 4,145,301. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock's fifty day simple moving average is $108.38 and its 200-day simple moving average is $112.22. The firm has a market cap of $95.62 billion, a P/E ratio of 25.79, a PEG ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. On average, analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.92%. Prologis's payout ratio is 101.00%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company's stock.

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.