Prologis, Inc. (NYSE:PLD) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 226.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 178,380 shares of the real estate investment trust's stock after purchasing an additional 123,765 shares during the period. Teacher Retirement System of Texas' holdings in Prologis were worth $19,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. Novem Group grew its stake in shares of Prologis by 6.9% during the first quarter. Novem Group now owns 32,906 shares of the real estate investment trust's stock worth $3,679,000 after acquiring an additional 2,130 shares during the last quarter. Arlington Trust Co LLC grew its stake in shares of Prologis by 12.7% during the first quarter. Arlington Trust Co LLC now owns 2,663 shares of the real estate investment trust's stock worth $298,000 after acquiring an additional 300 shares during the last quarter. Alley Investment Management Company LLC grew its stake in shares of Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after acquiring an additional 54,914 shares during the last quarter. Pinnacle Financial Partners Inc purchased a new stake in shares of Prologis during the first quarter worth about $233,000. Finally, First Bank & Trust grew its stake in shares of Prologis by 22.1% during the first quarter. First Bank & Trust now owns 19,739 shares of the real estate investment trust's stock worth $2,207,000 after acquiring an additional 3,575 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

NYSE:PLD traded down $0.28 during trading hours on Friday, reaching $108.03. The company had a trading volume of 1,549,648 shares, compared to its average volume of 4,170,417. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The firm has a market cap of $100.24 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.74 and a beta of 1.23. The business's 50 day moving average price is $106.82 and its 200-day moving average price is $109.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (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 company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Tuesday, June 17th. Prologis's payout ratio is 101.00%.

Analyst Ratings Changes

PLD has been the topic of a number of research analyst reports. Truist Financial dropped their price target on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Evercore ISI dropped their price target 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 dropped 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. CJS Securities dropped their target price on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Finally, Scotiabank upped their target price on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $120.42.

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.