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

New York State Teachers Retirement System trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 695,703 shares of the real estate investment trust's stock after selling 55,859 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Prologis worth $77,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. Norges Bank purchased a new position in Prologis during the 4th quarter worth $951,263,000. Northern Trust Corp grew its stake in Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after buying an additional 4,893,284 shares during the last quarter. Capital Research Global Investors grew its stake in Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after purchasing an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Prologis during the 4th quarter valued at about $254,876,000. Finally, FMR LLC grew its stake in Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLD. Truist Financial dropped their price target on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Scotiabank boosted their price target on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. CJS Securities dropped their price target on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Finally, Wells Fargo & Company dropped their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of "Moderate Buy" and a consensus target price of $120.42.

Prologis Stock Performance

NYSE PLD opened at $105.58 on Monday. The stock has a market capitalization of $97.97 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.68 and a beta of 1.25. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $106.21 and a 200 day moving average of $109.47.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.83%. Prologis's payout ratio is 101.00%.

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.

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