Retirement Systems of Alabama Increases Position in Prologis, Inc. (NYSE:PLD)

Retirement Systems of Alabama increased its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,115,870 shares of the real estate investment trust's stock after buying an additional 28,041 shares during the period. Prologis accounts for 0.6% of Retirement Systems of Alabama's holdings, making the stock its 23rd largest position. Retirement Systems of Alabama owned 0.12% of Prologis worth $148,745,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PLD. Thompson Investment Management Inc. bought a new stake in shares of Prologis during the fourth quarter worth $28,000. FinTrust Capital Advisors LLC grew its stake in shares of Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust's stock worth $29,000 after buying an additional 232 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Prologis during the fourth quarter worth $37,000. FNY Investment Advisers LLC bought a new stake in shares of Prologis during the fourth quarter worth $39,000. Finally, Valley National Advisers Inc. grew its stake in shares of Prologis by 178.6% during the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust's stock worth $44,000 after buying an additional 250 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 0.7 %

Shares of NYSE PLD traded up $0.71 during trading on Friday, hitting $104.06. 4,037,744 shares of the company traded hands, compared to its average volume of 4,340,292. The business's fifty day moving average is $125.06 and its 200 day moving average is $122.01. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm has a market capitalization of $96.26 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 2.17 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.69%. This is a positive change from Prologis's previous quarterly dividend of $0.87. Prologis's dividend payout ratio is currently 112.28%.

Wall Street Analysts Forecast Growth

PLD has been the topic of several analyst reports. Argus reduced 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, April 22nd. Barclays reduced their price objective on shares of Prologis from $141.00 to $135.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada boosted their price objective on shares of Prologis from $128.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, February 16th. UBS Group reduced their price objective on shares of Prologis from $151.00 to $138.00 and set a "buy" rating on the stock in a research note on Thursday, April 18th. Finally, Raymond James boosted their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $134.24.

Prologis Company 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.