VIRGINIA RETIREMENT SYSTEMS ET Al Has $53.88 Million Stock Holdings in Prologis, Inc. $PLD

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 470,520 shares of the real estate investment trust’s stock after purchasing an additional 31,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Prologis were worth $53,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clayton Financial Group LLC acquired a new stake in Prologis during the 3rd quarter worth $26,000. Barrett & Company Inc. acquired a new position in Prologis in the second quarter valued at about $44,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Prologis in the second quarter worth about $44,000. Toth Financial Advisory Corp acquired a new stake in shares of Prologis during the third quarter worth about $52,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Prologis by 32.1% during the 3rd quarter. Sound Income Strategies LLC now owns 482 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the transaction, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by corporate insiders.

Prologis Stock Up 0.4%

Prologis stock opened at $128.96 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $131.70. The company has a fifty day simple moving average of $126.69 and a 200 day simple moving average of $116.41. The company has a market cap of $119.79 billion, a P/E ratio of 37.60, a price-to-earnings-growth ratio of 3.95 and a beta of 1.39.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm had revenue of $2.21 billion for the quarter. Research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.1%. Prologis’s dividend payout ratio is 117.78%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PLD shares. Evercore ISI increased their target price on Prologis from $116.00 to $118.00 in a research note on Monday, December 22nd. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and upped their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Prologis in a research report on Monday. UBS Group set a $138.00 price objective on shares of Prologis in a research report on Thursday, December 4th. Finally, Truist Financial reiterated a “buy” rating and set a $131.00 target price (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.00.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.