Strs Ohio Cuts Holdings in Prologis, Inc. (NYSE:PLD)

Strs Ohio lowered its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,204,375 shares of the real estate investment trust's stock after selling 16,259 shares during the period. Prologis comprises about 0.7% of Strs Ohio's portfolio, making the stock its 19th biggest holding. Strs Ohio owned about 0.13% of Prologis worth $160,543,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Carnegie Capital Asset Management LLC increased its holdings in Prologis by 126.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 22,164 shares of the real estate investment trust's stock worth $2,954,000 after purchasing an additional 12,380 shares in the last quarter. River Street Advisors LLC bought a new stake in shares of Prologis in the 4th quarter valued at about $257,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Prologis by 2.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,660,807 shares of the real estate investment trust's stock valued at $621,286,000 after buying an additional 119,388 shares during the last quarter. Crumly & Associates Inc. grew its position in shares of Prologis by 16.5% in the 4th quarter. Crumly & Associates Inc. now owns 8,681 shares of the real estate investment trust's stock valued at $1,157,000 after buying an additional 1,231 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Prologis in the 4th quarter valued at about $7,451,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of analyst reports. Royal Bank of Canada upped their price target on Prologis from $128.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, February 16th. Raymond James upped their target price on Prologis from $130.00 to $145.00 and gave the company a "strong-buy" rating in a research report on Wednesday, January 24th. Evercore ISI restated an "in-line" rating and set a $136.00 target price on shares of Prologis in a research report on Monday, March 18th. Mizuho restated a "neutral" rating and set a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. Finally, TheStreet upgraded Prologis from a "c+" rating to a "b-" rating in a research report on Friday, January 26th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.67.

Prologis Stock Performance

Shares of PLD traded down $1.25 on Friday, reaching $119.00. 3,735,258 shares of the company's stock traded hands, compared to its average volume of 3,273,341. The stock's 50 day simple moving average is $129.98 and its two-hundred day simple moving average is $122.26. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock has a market cap of $110.08 billion, a PE ratio of 36.17, a PEG ratio of 2.38 and a beta of 1.00. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the company posted $1.24 earnings per share. Prologis's revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts forecast that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.23%. This is a positive change from Prologis's previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis's dividend payout ratio is 116.72%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.