Vestcor Inc Reduces Stock Position in Prologis, Inc. $PLD

Vestcor Inc reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,379 shares of the real estate investment trust’s stock after selling 23,644 shares during the period. Vestcor Inc’s holdings in Prologis were worth $18,559,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PLD. Nvwm LLC lifted its holdings in Prologis by 6,069.7% during the 4th quarter. Nvwm LLC now owns 15,486 shares of the real estate investment trust’s stock valued at $1,977,000 after purchasing an additional 15,235 shares during the last quarter. Foresight Group Ltd Liability Partnership boosted its holdings in Prologis by 240.1% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 44,715 shares of the real estate investment trust’s stock valued at $5,109,000 after purchasing an additional 31,567 shares during the period. Assetmark Inc. boosted its stake in shares of Prologis by 10.0% in the third quarter. Assetmark Inc. now owns 79,350 shares of the real estate investment trust’s stock valued at $9,087,000 after buying an additional 7,217 shares during the period. State of New Jersey Common Pension Fund D lifted its position in shares of Prologis by 1.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 754,060 shares of the real estate investment trust’s stock valued at $86,355,000 after acquiring an additional 14,318 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in Prologis by 32.1% during the third quarter. Public Sector Pension Investment Board now owns 252,188 shares of the real estate investment trust’s stock worth $28,881,000 after purchasing an additional 61,230 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of PLD opened at $144.69 on Friday. The firm has a market capitalization of $134.90 billion, a P/E ratio of 36.45, a P/E/G ratio of 3.16 and a beta of 1.32. The stock has a 50 day moving average price of $140.40 and a two-hundred day moving average price of $134.72. Prologis, Inc. has a 52 week low of $103.41 and a 52 week high of $147.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.51 and a current ratio of 0.51.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.24. Prologis had a return on equity of 6.47% and a net margin of 41.54%.The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period last year, the business earned $1.43 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.070-6.230 EPS. Equities analysts forecast that Prologis, Inc. will post 6.18 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 16th. Prologis’s dividend payout ratio (DPR) is presently 107.81%.

Analyst Ratings Changes

PLD has been the subject of several recent analyst reports. Evercore set a $135.00 target price on Prologis in a research note on Friday, April 17th. BNP Paribas Exane boosted their target price on shares of Prologis from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Argus increased their price target on Prologis from $135.00 to $152.00 and gave the company a “buy” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. increased their price objective on shares of Prologis from $141.00 to $157.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Finally, Mizuho lifted their target price on Prologis from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.86.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.