Utah Retirement Systems Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Utah Retirement Systems lifted its stake in Prologis, Inc. (NYSE:PLD) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,244 shares of the real estate investment trust’s stock after buying an additional 500 shares during the period. Utah Retirement Systems’ holdings in Prologis were worth $16,198,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PLD. Phoenix Financial Ltd. increased its position in Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock worth $955,000 after buying an additional 86 shares in the last quarter. Principle Wealth Partners LLC grew its position in shares of Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares during the period. Black Diamond Financial LLC grew its position in shares of Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares during the period. Berkshire Bank grew its position in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the period. Finally, CreativeOne Wealth LLC grew its position in shares of Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock valued at $642,000 after purchasing an additional 100 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s 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 trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Prologis Trading Down 0.1 %

Shares of PLD opened at $103.17 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The stock’s 50-day moving average is $108.76 and its two-hundred day moving average is $112.29. The stock has a market cap of $95.63 billion, a PE ratio of 25.79, a P/E/G ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.92%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. UBS Group lifted their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Mizuho lowered their price objective on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Royal Bank of Canada reduced their target price on Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $122.74.

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.