Maryland State Retirement & Pension System Has $9.57 Million Holdings in Prologis, Inc. (NYSE:PLD)

Maryland State Retirement & Pension System grew its holdings in Prologis, Inc. (NYSE:PLD) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,824 shares of the real estate investment trust’s stock after purchasing an additional 764 shares during the period. Maryland State Retirement & Pension System’s holdings in Prologis were worth $9,574,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Columbia Trust Co 01012016 grew its stake in shares of Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in shares of Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after buying an additional 11,882 shares in the last quarter. DNB Asset Management AS grew its stake in shares of Prologis by 17.1% in the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after buying an additional 42,073 shares in the last quarter. Grassi Investment Management grew its stake in shares of Prologis by 31.8% in the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after buying an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. grew its stake in shares of Prologis by 255.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after buying an additional 11,582 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the subject of several research reports. Argus cut their price target on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. JPMorgan Chase & Co. lowered their price target on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Royal Bank of Canada lowered their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Stock Up 3.1 %

PLD stock traded up $3.25 during trading on Tuesday, reaching $107.92. 2,645,163 shares of the stock were exchanged, compared to its average volume of 3,546,564. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The firm’s 50 day moving average is $121.55 and its 200 day moving average is $121.86. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The firm has a market cap of $99.92 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.