Public Employees Retirement Association of Colorado Sells 4,082 Shares of Prologis, Inc. (NYSE:PLD)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.4% during the second quarter, HoldingsChannel reports. The fund owned 1,010,845 shares of the real estate investment trust’s stock after selling 4,082 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Prologis were worth $113,528,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. increased its position in shares of Prologis by 81.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 14,750 shares of the real estate investment trust’s stock worth $1,656,000 after buying an additional 6,611 shares during the period. Clifford Group LLC increased its position in shares of Prologis by 3.1% during the second quarter. Clifford Group LLC now owns 4,952 shares of the real estate investment trust’s stock worth $556,000 after buying an additional 148 shares during the period. Ieq Capital LLC increased its position in shares of Prologis by 1.2% during the second quarter. Ieq Capital LLC now owns 31,660 shares of the real estate investment trust’s stock worth $3,556,000 after buying an additional 380 shares during the period. Brighton Jones LLC increased its position in shares of Prologis by 2.1% during the second quarter. Brighton Jones LLC now owns 14,635 shares of the real estate investment trust’s stock worth $1,644,000 after buying an additional 298 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Prologis during the second quarter worth $2,246,000. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Morgan Stanley raised their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, Barclays raised their price target on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $133.35.

Prologis Stock Up 1.2 %

PLD opened at $128.51 on Friday. 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’s 50-day moving average is $125.38 and its 200 day moving average is $118.80. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm has a market capitalization of $118.98 billion, a P/E ratio of 37.58, a PEG ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $1.83 earnings per share. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. Research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is currently 112.28%.

Insider Activity at Prologis

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

Prologis 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.