Public Employees Retirement System of Ohio Grows Stake in Prologis, Inc. $PLD

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Prologis, Inc. by 1.0% in the second quarter, owning approximately 1.7 million shares valued at $179 million.
• Prologis has received mixed ratings from analysts, with targets ranging from $113 to $140, and a consensus rating of "Moderate Buy".
• The company announced a quarterly dividend of $1.01, resulting in an annualized dividend yield of 3.5% with a payout ratio of 109.49%.

Public Employees Retirement System of Ohio grew its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,703,599 shares of the real estate investment trust's stock after buying an additional 16,754 shares during the quarter. Prologis makes up about 0.6% of Public Employees Retirement System of Ohio's investment portfolio, making the stock its 21st largest holding. Public Employees Retirement System of Ohio owned approximately 0.18% of Prologis worth $179,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Alley Investment Management Company LLC lifted its stake in shares of Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock valued at $12,111,000 after purchasing an additional 54,914 shares during the period. Jump Financial LLC purchased a new position in shares of Prologis in the 1st quarter valued at approximately $2,120,000. First Citizens Bank & Trust Co. lifted its stake in shares of Prologis by 1,451.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after purchasing an additional 29,170 shares during the period. Truist Financial Corp lifted its stake in shares of Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after purchasing an additional 25,229 shares during the period. Finally, Ally Financial Inc. lifted its stake in shares of Prologis by 16.7% in the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock valued at $3,130,000 after purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group raised their target price on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Citigroup lowered their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Evercore ISI raised their target price on Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Mizuho set a $118.00 target price on Prologis and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Finally, Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.58.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the sale, the director owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares of the company's stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Prologis Stock Up 0.5%

Shares of NYSE:PLD opened at $114.45 on Wednesday. The stock has a fifty day simple moving average of $110.06 and a two-hundred day simple moving average of $107.55. The stock has a market capitalization of $106.24 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.88 and a beta of 1.26. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.65. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. Prologis's dividend payout ratio (DPR) is presently 109.49%.

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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