VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Stake in Prologis, Inc. $PLD

Key Points

• Virginia Retirement Systems has acquired a new stake in Prologis, purchasing 438,720 shares valued at approximately $46.1 million.
• Prologis recently announced a quarterly dividend of $1.01 per share, representing an annualized yield of 3.3% and a payout ratio of nearly 109.49%.
• Wall Street analysts have given Prologis a consensus rating of "Moderate Buy", with price targets ranging from $116 to $140, reflecting positive growth expectations.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 438,720 shares of the real estate investment trust's stock, valued at approximately $46,118,000.

Other large investors also recently bought and sold shares of the company. Nicholson Wealth Management Group LLC boosted its holdings in shares of Prologis by 9.1% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 14,026 shares of the real estate investment trust's stock worth $1,474,000 after purchasing an additional 1,170 shares during the last quarter. Chevy Chase Trust Holdings LLC lifted its position in Prologis by 0.8% during the second quarter. Chevy Chase Trust Holdings LLC now owns 490,681 shares of the real estate investment trust's stock worth $51,580,000 after buying an additional 3,838 shares in the last quarter. Easterly Investment Partners LLC boosted its stake in Prologis by 123.3% during the second quarter. Easterly Investment Partners LLC now owns 156,558 shares of the real estate investment trust's stock worth $16,457,000 after buying an additional 86,454 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in Prologis by 0.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust's stock valued at $1,438,000 after buying an additional 93 shares in the last quarter. Finally, Master S Wealth Management Inc. grew its holdings in Prologis by 51.9% in the 2nd quarter. Master S Wealth Management Inc. now owns 6,682 shares of the real estate investment trust's stock valued at $702,000 after buying an additional 2,284 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares of the company's stock, valued at $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 owned 414 shares of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 in the last 90 days. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLD. Citigroup dropped their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Mizuho set a $118.00 target price on shares of Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and increased their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Evercore ISI lifted their price target on shares of Prologis from $113.00 to $116.00 and gave the company an "in-line" rating in a research report on Thursday. Finally, Barclays decreased their price objective on Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and an average target price of $122.74.

Prologis Stock Performance

NYSE:PLD opened at $124.27 on Friday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $125.04. The company has a fifty day simple moving average of $113.12 and a two-hundred day simple moving average of $108.03. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. The company has a market cap of $115.40 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 3.13 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping the consensus estimate of $1.44 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.3%. Prologis's dividend payout ratio is 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.

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