California Public Employees Retirement System Sells 54,244 Shares of Prologis, Inc. (NYSE:PLD)

California Public Employees Retirement System reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,863,931 shares of the real estate investment trust’s stock after selling 54,244 shares during the quarter. California Public Employees Retirement System owned 0.20% of Prologis worth $248,462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PLD. Thompson Investment Management Inc. bought a new stake in shares of Prologis during the 4th quarter worth $28,000. FinTrust Capital Advisors LLC raised its position 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 purchasing an additional 232 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in Prologis in the fourth quarter valued at about $37,000. FNY Investment Advisers LLC bought a new position in Prologis in the fourth quarter valued at about $39,000. Finally, Valley National Advisers Inc. raised its position 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 purchasing an additional 250 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 0.4 %

Prologis stock traded up $0.40 during mid-day trading on Tuesday, reaching $104.48. The stock had a trading volume of 493,872 shares, compared to its average volume of 3,404,745. 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, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock’s 50-day simple moving average is $127.31 and its 200-day simple moving average is $122.19. The firm has a market capitalization of $96.65 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Analysts Set New Price Targets

Several research firms have commented on PLD. Barclays dropped their target price on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Mizuho reissued a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. UBS Group decreased their price target on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, Raymond James increased their price target on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Five investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.41.

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.