Prologis, Inc. (NYSE:PLD) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its stake in Prologis, Inc. (NYSE:PLD) by 23.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 151,843 shares of the real estate investment trust’s stock after selling 47,815 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Prologis were worth $19,773,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PLD. Vanguard Group Inc. grew its position in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after purchasing an additional 365,904 shares during the period. Principal Financial Group Inc. grew its position in shares of Prologis by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after purchasing an additional 123,902 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Prologis by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after purchasing an additional 175,276 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLD has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI lifted their price objective on Prologis from $119.00 to $123.00 and gave the company an “in-line” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. dropped their price target on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. UBS Group dropped 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. Finally, Barclays upped their price target on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $130.93.

Prologis Stock Down 2.9 %

Shares of PLD stock traded down $3.74 during trading hours on Friday, reaching $123.98. The company had a trading volume of 5,728,468 shares, compared to its average volume of 3,820,959. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a market capitalization of $114.79 billion, a P/E ratio of 36.25, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. The stock’s fifty day simple moving average is $115.08 and its 200 day simple moving average is $119.79.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 EPS. As a group, sell-side analysts expect that Prologis, Inc. will post 5.43 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio is currently 112.28%.

Prologis 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.