Strs Ohio Invests $98.31 Million in Prologis, Inc. $PLD

Key Points

• Strs Ohio has invested approximately $98.31 million in Prologis, acquiring 879,402 shares of the real estate investment trust (REIT).
• Prologis recently announced a quarterly dividend of $1.01 per share, reflecting a 3.6% yield with a payout ratio of 109.49%.
• Wall Street analysts have mixed ratings on Prologis, with a consensus target price of $121.83 and a moderate buy rating.

Strs Ohio acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 879,402 shares of the real estate investment trust's stock, valued at approximately $98,308,000. Strs Ohio owned 0.09% of Prologis as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. REAP Financial Group LLC boosted its position 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 worth $31,000 after buying an additional 84 shares during the period. LaSalle St. Investment Advisors LLC raised its holdings in Prologis by 3.7% during the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock worth $300,000 after acquiring an additional 96 shares in the last quarter. Van Hulzen Asset Management LLC raised its holdings in Prologis by 5.6% during the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust's stock worth $201,000 after acquiring an additional 96 shares in the last quarter. Sandler Capital Management raised its holdings in Prologis by 5.3% during the first quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust's stock worth $224,000 after acquiring an additional 100 shares in the last quarter. Finally, Focus Financial Network Inc. raised its stake in Prologis by 5.2% in 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 buying an additional 104 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares of the company's stock, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated 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 transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of several research reports. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Wells Fargo & Company set a $137.00 target price on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Scotiabank set a $114.00 target price on Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Mizuho set a $118.00 target price on Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, UBS Group raised their price objective on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $121.83.

Prologis Stock Performance

Shares of PLD opened at $111.02 on Thursday. The firm has a market capitalization of $103.05 billion, a P/E ratio of 30.09, a P/E/G ratio of 2.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day moving average price of $108.89 and a two-hundred day moving average price of $108.13. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.39.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company posted $1.34 earnings per share. Prologis's quarterly revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities analysts forecast 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 will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.6%. Prologis's payout ratio is 109.49%.

Prologis Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.