Prologis, Inc. $PLD Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Prologis stake by 13,234.9% in the second quarter, acquiring 188 million additional shares and ending with a 20.3% ownership position valued at approximately $25.7 billion.
• Analysts maintain a generally positive view of Prologis, with a “Moderate Buy” consensus rating and an average price target of $154.52. Sixteen analysts rate the stock Buy, while seven rate it Hold.
• Prologis reported quarterly earnings of $1.13 per share and revenue of $2.43 billion, exceeding expectations, while revenue rose 11% year over year. The REIT also declared a quarterly dividend of $1.07 per share, equivalent to a 3.1% annual yield.

California State Teachers Retirement System boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 13,234.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,453,847 shares of the real estate investment trust's stock after purchasing an additional 188,033,109 shares during the quarter. California State Teachers Retirement System owned about 20.30% of Prologis worth $25,665,313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new stake in shares of Prologis in the second quarter valued at approximately $25,000. Solstein Capital LLC acquired a new stake in shares of Prologis in the second quarter valued at approximately $25,000. Clearstead Trust LLC purchased a new position in Prologis during the second quarter worth approximately $28,000. Johnson Financial Group Inc. purchased a new position in Prologis during the second quarter worth approximately $29,000. Finally, SouthState Bank Corp boosted its stake in Prologis by 73.1% during the fourth quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust's stock worth $29,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Robert W. Baird set a $140.00 price target on shares of Prologis in a research note on Friday, July 31st. Scotiabank lifted their price target on shares of Prologis from $146.00 to $150.00 and gave the company a "sector perform" rating in a research report on Thursday, July 23rd. Wells Fargo & Company lowered their price objective on Prologis from $167.00 to $166.00 and set an "overweight" rating for the company in a research report on Tuesday, September 1st. Truist Financial raised their target price on Prologis from $154.00 to $162.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Finally, Raymond James Financial initiated coverage on Prologis in a research report on Thursday, June 18th. They issued a "market perform" rating on the stock. Sixteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $154.52.

Insider Buying and Selling at Prologis

In other news, CFO Timothy Arndt sold 3,597 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company's stock.

Prologis Stock Performance

NYSE PLD opened at $137.42 on Tuesday. The company has a market cap of $128.22 billion, a P/E ratio of 30.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a 50-day moving average of $142.03 and a two-hundred day moving average of $140.56. Prologis, Inc. has a 1-year low of $110.60 and a 1-year high of $153.35.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.38. Prologis had a net margin of 45.79% and a return on equity of 7.29%. The firm had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The business's quarterly revenue was up 11.0% compared to the same quarter last year. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. As a group, analysts anticipate that Prologis, Inc. will post 6.27 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $1.07 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $4.28 annualized dividend and a dividend yield of 3.1%. Prologis's payout ratio is 95.32%.

Prologis 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.

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