California Public Employees Retirement System Has $248.46 Million Position in Prologis, Inc. (NYSE:PLD)

California Public Employees Retirement System reduced its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,863,931 shares of the real estate investment trust's stock after selling 54,244 shares during the period. California Public Employees Retirement System owned 0.20% of Prologis worth $248,462,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PLD. Thompson Investment Management Inc. purchased a new position in Prologis in the fourth quarter valued at approximately $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. purchased a new position in Prologis in the fourth quarter valued at approximately $37,000. FNY Investment Advisers LLC purchased a new position in Prologis in the fourth quarter valued at approximately $39,000. Finally, Valley National Advisers Inc. raised its holdings in Prologis by 178.6% in the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 250 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

PLD stock traded up $0.78 during mid-day trading on Tuesday, reaching $104.86. The company had a trading volume of 4,231,958 shares, compared to its average volume of 3,454,940. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $97.00 billion, a P/E ratio of 30.66, a P/E/G ratio of 2.08 and a beta of 1.00. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock's 50-day simple moving average is $126.79 and its two-hundred day simple moving average is $122.16.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.96 per share. This is a boost from Prologis's previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Friday, March 15th. Prologis's payout ratio is currently 112.28%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. 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. Robert W. Baird lifted their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a "neutral" rating in a research note on Tuesday, January 23rd. Mizuho reiterated a "neutral" rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, February 16th. Finally, BMO Capital Markets lowered shares of Prologis from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $145.00 to $112.00 in a research note on Monday. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.41.

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.