California Public Employees Retirement System Buys 51,101 Shares of Prologis, Inc. $PLD

California Public Employees Retirement System boosted its stake in Prologis, Inc. (NYSE:PLD) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,718,907 shares of the real estate investment trust’s stock after purchasing an additional 51,101 shares during the period. California Public Employees Retirement System owned about 0.19% of Prologis worth $180,692,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. Activest Wealth Management increased its holdings in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 223 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Prologis during the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis during the 1st quarter worth $34,000. Saudi Central Bank acquired a new position in Prologis in the 1st quarter worth about $41,000. Finally, Barrett & Company Inc. acquired a new position in Prologis in the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of recent research reports. UBS Group set a $138.00 price target on Prologis in a research note on Thursday. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a research report on Monday, October 20th. Truist Financial reissued a “buy” rating and set a $131.00 target price (up from $120.00) on shares of Prologis in a report on Monday, October 20th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research note on Monday, October 20th. Finally, Mizuho boosted their price objective on shares of Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.78.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares in the company, valued at approximately $1,047,340.80. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 1,621 shares of company stock worth $198,655 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Prologis Trading Down 0.2%

PLD opened at $127.97 on Monday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $130.45. The company has a fifty day moving average of $123.04 and a 200-day moving average of $113.91. The stock has a market cap of $118.87 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 3.93 and a beta of 1.39. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.2%. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

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.