Prologis, Inc. (NYSE:PLD) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,637,278 shares of the real estate investment trust's stock after selling 10,748 shares during the quarter. Prologis accounts for approximately 0.6% of State of Tennessee Department of Treasury's investment portfolio, making the stock its 28th biggest position. State of Tennessee Department of Treasury owned 0.18% of Prologis worth $173,060,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mirabella Financial Services LLP purchased a new stake in Prologis during the 4th quarter worth approximately $1,365,000. MYDA Advisors LLC grew its stake in shares of Prologis by 98.5% in the fourth quarter. MYDA Advisors LLC now owns 138,933 shares of the real estate investment trust's stock worth $14,685,000 after acquiring an additional 68,933 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Prologis by 1.3% during the fourth quarter. MetLife Investment Management LLC now owns 272,299 shares of the real estate investment trust's stock worth $28,782,000 after acquiring an additional 3,468 shares during the period. Natixis raised its stake in shares of Prologis by 3.8% in the fourth quarter. Natixis now owns 589,347 shares of the real estate investment trust's stock valued at $62,294,000 after acquiring an additional 21,348 shares in the last quarter. Finally, Norinchukin Bank The boosted its holdings in Prologis by 4.0% in the fourth quarter. Norinchukin Bank The now owns 83,876 shares of the real estate investment trust's stock valued at $8,866,000 after purchasing an additional 3,228 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Prologis Stock Performance

Prologis stock traded down $1.05 during mid-day trading on Friday, reaching $102.31. 2,828,184 shares of the company were exchanged, compared to its average volume of 4,148,129. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The firm has a market cap of $94.84 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm's 50-day simple moving average is $109.48 and its two-hundred day simple moving average is $112.56.

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

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is currently 101.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group upped their price target on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. BMO Capital Markets lowered their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Scotiabank reiterated a "sector underperform" rating and set a $97.00 target price (down previously from $133.00) on shares of Prologis in a research note on Monday, April 7th. BTIG Research lowered their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Finally, Royal Bank of Canada raised their target price on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $123.32.

Prologis Company Profile

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.