Louisiana State Employees Retirement System Sells 800 Shares of Prologis, Inc. $PLD

Louisiana State Employees Retirement System decreased its holdings in Prologis, Inc. (NYSE:PLD) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,000 shares of the real estate investment trust’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Prologis were worth $5,151,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock valued at $13,564,533,000 after acquiring an additional 869,310 shares during the last quarter. Nuveen LLC bought a new position in shares of Prologis in the 1st quarter valued at about $1,456,768,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Prologis by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock valued at $1,173,340,000 after acquiring an additional 93,201 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Prologis by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after acquiring an additional 1,146,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Prologis by 7.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock worth $870,871,000 after purchasing an additional 507,367 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE:PLD opened at $116.07 on Thursday. The firm has a market cap of $107.79 billion, a PE ratio of 31.46, a price-to-earnings-growth ratio of 2.93 and a beta of 1.28. The firm’s 50 day simple moving average is $111.51 and its 200-day simple moving average is $107.74. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s payout ratio is presently 109.49%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLD shares. Evercore ISI increased their price objective on shares of Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Barclays reduced their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. UBS Group increased their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Finally, Citigroup reduced their price objective on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.58.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total value of $57,845.00. Following the transaction, the director owned 9,329 shares in the company, valued at $1,079,272.01. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $2,952,095 over the last 90 days. 0.57% of the stock is currently owned by company 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.