Prologis, Inc. (NYSE:PLD) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,308,845 shares of the real estate investment trust's stock after selling 109,511 shares during the period. New York State Common Retirement Fund owned approximately 0.14% of Prologis worth $174,469,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Thompson Investment Management Inc. acquired a new stake in Prologis during the fourth quarter worth about $28,000. FinTrust Capital Advisors LLC raised its holdings in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 232 shares during the period. Salem Investment Counselors Inc. acquired a new position in Prologis during the fourth quarter valued at approximately $37,000. FNY Investment Advisers LLC acquired a new position in Prologis during the fourth quarter valued at approximately $39,000. Finally, Webster Bank N. A. grew its stake in Prologis by 3,600.0% during the fourth quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust's stock worth $44,000 after buying an additional 324 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Robert W. Baird upped their price target on shares of Prologis from $133.00 to $137.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 23rd. Raymond James raised their target price on Prologis from $130.00 to $145.00 and gave the company a "strong-buy" rating in a report on Wednesday, January 24th. TheStreet upgraded Prologis from a "c+" rating to a "b-" rating in a report on Friday, January 26th. Argus dropped their price objective on shares of Prologis from $139.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Morgan Stanley boosted their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $135.41.

Prologis Stock Performance

PLD traded up $0.57 during trading hours on Monday, hitting $104.06. 3,672,979 shares of the stock were exchanged, compared to its average volume of 3,442,791. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a 50-day simple moving average of $127.31 and a 200-day simple moving average of $122.19. The stock has a market cap of $96.26 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.69%. This is an increase from Prologis's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis's dividend payout ratio is 112.28%.

Prologis Profile

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.

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