Teachers Retirement System of The State of Kentucky Sells 78,404 Shares of Prologis, Inc. (NYSE:PLD)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 51.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 73,439 shares of the real estate investment trust’s stock after selling 78,404 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Prologis were worth $8,248,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its stake in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Capital World Investors grew its stake in Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after buying an additional 6,765,582 shares during the last quarter. Swedbank AB acquired a new stake in shares of Prologis during the first quarter worth approximately $596,614,000. Alphinity Investment Management Pty Ltd bought a new position in shares of Prologis in the first quarter valued at approximately $465,659,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Prologis in the 2nd quarter worth approximately $203,223,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PLD shares. Truist Financial boosted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Bank of America reissued a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, The Goldman Sachs Group upped their price target on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Seven investment 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 stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $133.35.

Prologis Stock Performance

Shares of PLD opened at $124.18 on Thursday. The stock has a 50 day moving average of $125.82 and a 200 day moving average of $118.24. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a market capitalization of $114.97 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 3.25 and a beta of 1.07.

Prologis (NYSE:PLD) last released its 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 company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The firm’s revenue was down 18.1% on a year-over-year basis. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is 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.