Prologis, Inc. (NYSE:PLD) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,114,762 shares of the real estate investment trust's stock after selling 8,197 shares during the period. Retirement Systems of Alabama owned 0.12% of Prologis worth $124,619,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the 4th quarter worth $30,000. REAP Financial Group LLC raised its holdings in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 84 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in shares of Prologis during the 4th quarter worth $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on PLD. Royal Bank Of Canada reduced their target price on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Evercore ISI reduced their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Mizuho decreased their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. BMO Capital Markets lowered their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Barclays reduced their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Price Performance

Prologis stock opened at $105.05 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The firm has a market cap of $97.48 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The company's 50 day moving average is $105.43 and its two-hundred day moving average is $109.85.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion for 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%. On average, research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend 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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