State of Michigan Retirement System Has $26.57 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

State of Michigan Retirement System decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 6.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 251,367 shares of the real estate investment trust’s stock after selling 16,351 shares during the quarter. State of Michigan Retirement System’s holdings in Prologis were worth $26,569,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PLD. Centricity Wealth Management LLC acquired a new position in Prologis during the 4th quarter worth $30,000. Dunhill Financial LLC boosted its position in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Prologis in the 4th quarter worth $34,000. Hara Capital LLC bought a new position in shares of Prologis in the 3rd quarter worth $48,000. Finally, Coastline Trust Co bought a new stake in shares of Prologis in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wolfe Research lowered their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird increased their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. UBS Group increased their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Trading Down 0.4 %

NYSE PLD opened at $123.48 on Tuesday. The company has a market cap of $114.45 billion, a PE ratio of 30.87, a PEG ratio of 2.70 and a beta of 1.10. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The stock has a 50 day moving average of $114.66 and a 200-day moving average of $118.00.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.27%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

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.