Prologis, Inc. $PLD Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in Prologis, Inc. (NYSE:PLD) by 0.9% in the third quarter, Holdings Channel.com reports. The fund owned 553,414 shares of the real estate investment trust’s stock after selling 4,827 shares during the period. Prologis makes up approximately 0.6% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 16th largest position. State of Alaska Department of Revenue’s holdings in Prologis were worth $63,375,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ignite Planners LLC increased its stake in Prologis by 3.2% during the third quarter. Ignite Planners LLC now owns 2,937 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 92 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Prologis by 0.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock valued at $1,438,000 after buying an additional 93 shares during the period. Michael S. Ryan Inc. grew its position in shares of Prologis by 2.9% during the 2nd quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 94 shares during the last quarter. Stableford Capital II LLC grew its position in shares of Prologis by 0.4% during the 3rd quarter. Stableford Capital II LLC now owns 21,090 shares of the real estate investment trust’s stock valued at $2,415,000 after buying an additional 94 shares during the last quarter. Finally, Palogic Value Management L.P. raised its stake in Prologis by 4.7% during the second quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 96 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 1.2%

Shares of Prologis stock opened at $128.38 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $131.70. The business’s fifty day moving average price is $127.06 and its two-hundred day moving average price is $117.36. The company has a market capitalization of $119.25 billion, a P/E ratio of 37.43, a PEG ratio of 3.72 and a beta of 1.40.

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 return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.21 billion for the quarter. As a group, research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

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

Analysts Set New Price Targets

PLD has been the subject of a number of research reports. Truist Financial restated a “buy” rating and issued a $131.00 target price (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. Wells Fargo & Company boosted their price objective on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Barclays lowered their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a report on Monday, October 20th. Finally, Baird R W lowered shares of Prologis from a “strong-buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $129.18.

Insider Buying and Selling

In other news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James B. Connor sold 80,000 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $126.58, for a total transaction of $10,126,400.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 81,121 shares of company stock valued at $10,267,210. Company insiders own 0.57% of the company’s stock.

About Prologis

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.