Louisiana State Employees Retirement System Sells 2,300 Shares of Prologis, Inc. (NYSE:PLD)

Louisiana State Employees Retirement System cut its stake in Prologis, Inc. (NYSE:PLD) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,800 shares of the real estate investment trust’s stock after selling 2,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Prologis were worth $5,264,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Empirical Asset Management LLC raised its stake in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. increased its holdings in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after buying an additional 25,266 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after buying an additional 29,400 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Prologis during the 3rd quarter worth approximately $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Prologis during the 3rd quarter worth approximately $7,371,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

NYSE PLD opened at $119.81 on Thursday. The company has a market capitalization of $110.96 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The stock has a fifty day simple moving average of $111.29 and a 200 day simple moving average of $118.14. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.21%. Prologis’s dividend payout ratio (DPR) is 96.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on PLD. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Mizuho decreased their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and dropped 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 given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.