Prologis, Inc. (NYSE:PLD) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,863,931 shares of the real estate investment trust’s stock after selling 54,244 shares during the period. California Public Employees Retirement System’s holdings in Prologis were worth $248,462,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Columbia Trust Co 01012016 raised its stake in Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 723 shares during the period. Cyndeo Wealth Partners LLC increased its stake in Prologis by 39.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after buying an additional 11,882 shares during the period. DNB Asset Management AS increased its stake in Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after buying an additional 42,073 shares during the period. Grassi Investment Management increased its stake in Prologis by 31.8% during the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after buying an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. grew its holdings in Prologis by 255.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after acquiring an additional 11,582 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada lifted their price target on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Raymond James lifted their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Argus decreased their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday. Finally, UBS Group decreased their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.41.

Prologis Price Performance

Shares of PLD stock traded up $0.40 during midday trading on Tuesday, reaching $104.48. 493,872 shares of the company were exchanged, compared to its average volume of 3,404,745. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a market cap of $96.65 billion, a P/E ratio of 30.43, a PEG ratio of 2.08 and a beta of 1.00. The company’s 50 day moving average price is $127.31 and its two-hundred day moving average price is $122.19. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.68%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is 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.