Prologis, Inc. (NYSE:PLD) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its stake in Prologis, Inc. (NYSE:PLD) by 17.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,628 shares of the real estate investment trust’s stock after acquiring an additional 19,305 shares during the period. Public Sector Pension Investment Board’s holdings in Prologis were worth $14,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Optimum Investment Advisors acquired a new stake in shares of Prologis during the first quarter worth $26,000. American Capital Advisory LLC purchased a new stake in shares of Prologis in the second quarter valued at about $26,000. True Wealth Design LLC acquired a new position in shares of Prologis during the fourth quarter worth about $27,000. Central Valley Advisors LLC purchased a new position in Prologis during the second quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis in the second quarter valued at about $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

Prologis Trading Up 0.9 %

NYSE PLD opened at $126.63 on Tuesday. The company has a market cap of $117.24 billion, a P/E ratio of 37.03, a P/E/G ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The company has a 50-day moving average of $125.59 and a 200-day moving average of $118.50.

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 the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. As a group, equities analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PLD shares. Truist Financial boosted their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company increased their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Scotiabank upped their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Seven 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.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $133.35.

About Prologis

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.