Prologis, Inc. (NYSE:PLD) Stake Lessened by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 42.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 583,047 shares of the real estate investment trust's stock after selling 426,926 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.06% of Prologis worth $61,628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLD. Empirical Asset Management LLC lifted its position in shares of Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock valued at $7,249,000 after acquiring an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. raised its position in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after buying an additional 25,266 shares during the last quarter. Aviva PLC lifted its stake in shares of Prologis by 36.6% during the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after buying an additional 186,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after acquiring an additional 179,880 shares during the last quarter. Finally, Allstate Corp grew its stake in Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock worth $7,877,000 after acquiring an additional 39,321 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 2.4 %

Shares of NYSE PLD traded up $2.51 during midday trading on Friday, reaching $105.59. 2,505,702 shares of the company's stock were exchanged, compared to its average volume of 4,138,975. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The business's fifty day moving average price is $108.03 and its two-hundred day moving average price is $112.10. The stock has a market capitalization of $97.87 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.83%. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's dividend payout ratio is 101.00%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PLD. Truist Financial lifted their price objective on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. BMO Capital Markets decreased their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Morgan Stanley lowered their price target on Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $122.05.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company's stock.

About Prologis

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.