California Public Employees Retirement System Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

California Public Employees Retirement System grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 16.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,802,310 shares of the real estate investment trust’s stock after acquiring an additional 397,356 shares during the quarter. California Public Employees Retirement System owned about 0.30% of Prologis worth $296,204,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp bought a new position in Prologis during the fourth quarter valued at approximately $26,000. Dunhill Financial LLC lifted its holdings in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. Crowley Wealth Management Inc. purchased a new position in shares of Prologis in the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in shares of Prologis in the fourth quarter worth $30,000. Finally, Promus Capital LLC purchased a new stake in Prologis during the fourth quarter valued at $34,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PLD shares. Scotiabank cut their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BTIG Research decreased their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Price Performance

Prologis stock opened at $110.37 on Friday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The company has a market cap of $102.29 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09. The firm’s fifty day moving average is $117.74 and its 200 day moving average is $116.34. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred 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 sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.

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.