Teacher Retirement System of Texas Acquires 123,765 Shares of Prologis, Inc. (NYSE:PLD)

Teacher Retirement System of Texas boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 226.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 178,380 shares of the real estate investment trust's stock after buying an additional 123,765 shares during the quarter. Teacher Retirement System of Texas' holdings in Prologis were worth $19,941,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. Aviva PLC increased its holdings in shares of Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock worth $73,481,000 after acquiring an additional 186,187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after purchasing an additional 179,880 shares during the last quarter. Allstate Corp increased its holdings in shares of Prologis by 111.7% in the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after purchasing an additional 39,321 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Prologis by 1,451.2% in the first 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. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of Prologis by 3.1% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock worth $615,000 after buying an additional 167 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of PLD stock traded down $0.28 on Friday, reaching $108.03. The company had a trading volume of 1,549,648 shares, compared to its average volume of 4,162,745. The stock has a market capitalization 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 company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. The business's 50-day moving average is $106.82 and its 200 day moving average is $109.39. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 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 firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.74%. Prologis's dividend payout ratio (DPR) is currently 101.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial dropped their target price on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Scotiabank boosted their price objective on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Finally, BMO Capital Markets dropped their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.42.

Prologis 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.