Prologis, Inc. (NYSE:PLD) Holdings Raised by Arizona State Retirement System

Arizona State Retirement System lifted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 271,807 shares of the real estate investment trust's stock after purchasing an additional 4,405 shares during the quarter. Arizona State Retirement System's holdings in Prologis were worth $30,385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. REAP Financial Group LLC raised its stake in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares in the last quarter. Phoenix Financial Ltd. raised its stake in shares of Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after purchasing an additional 86 shares in the last quarter. CreativeOne Wealth LLC raised its stake in shares of Prologis by 1.7% during the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after purchasing an additional 100 shares in the last quarter. Focus Financial Network Inc. raised its stake in shares of Prologis by 5.2% during the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock valued at $234,000 after purchasing an additional 104 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Prologis by 9.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 113 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of several research reports. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Royal Bank Of Canada cut their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Evercore ISI lowered their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Barclays lowered their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Mizuho lowered their price target on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $119.53.

Prologis Price Performance

Shares of PLD opened at $109.05 on Friday. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The business has a 50-day simple moving average of $107.21 and a two-hundred day simple moving average of $109.52. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. The stock has a market cap of $101.19 billion, a PE ratio of 27.26, a PEG ratio of 2.75 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly 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 6.45% and a net margin of 44.59%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were issued a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.70%. Prologis's payout ratio is currently 101.00%.

About Prologis

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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