Teachers Retirement System of The State of Kentucky Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Teachers Retirement System of The State of Kentucky grew its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,519 shares of the real estate investment trust's stock after purchasing an additional 3,058 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Prologis were worth $7,995,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after buying an additional 15,078 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Prologis by 74.8% in the fourth quarter. Proficio Capital Partners LLC now owns 3,277 shares of the real estate investment trust's stock worth $346,000 after acquiring an additional 1,402 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Prologis by 781.0% in the fourth quarter. Teacher Retirement System of Texas now owns 54,615 shares of the real estate investment trust's stock worth $5,773,000 after acquiring an additional 48,416 shares during the period. LPL Financial LLC lifted its position in shares of Prologis by 16.8% in the 4th quarter. LPL Financial LLC now owns 951,459 shares of the real estate investment trust's stock worth $100,569,000 after purchasing an additional 136,545 shares during the period. Finally, Crowley Wealth Management Inc. acquired a new position in shares of Prologis in the 4th quarter worth approximately $27,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Barclays dropped their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Robert W. Baird dropped their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Morgan Stanley dropped their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.74.

Prologis Stock Performance

Shares of Prologis stock traded down $0.37 during trading hours on Friday, hitting $109.35. 580,286 shares of the company's stock traded hands, compared to its average volume of 4,629,361. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a fifty day simple moving average of $107.49 and a 200-day simple moving average of $109.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.19 and a quick ratio of 0.41. The stock has a market capitalization of $101.47 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.76 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 EPS. Equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is currently 109.49%.

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.