New York State Common Retirement Fund Lowers Stock Holdings in Prologis, Inc. $PLD

New York State Common Retirement Fund cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,201,026 shares of the real estate investment trust’s stock after selling 8,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Prologis were worth $126,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after purchasing an additional 15,078 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in Prologis by 17.4% during the first quarter. Foundations Investment Advisors LLC now owns 3,511 shares of the real estate investment trust’s stock worth $392,000 after buying an additional 520 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Prologis in the first quarter worth $1,172,000. Arkadios Wealth Advisors raised its stake in shares of Prologis by 28.3% in the 1st quarter. Arkadios Wealth Advisors now owns 17,800 shares of the real estate investment trust’s stock valued at $1,990,000 after acquiring an additional 3,921 shares during the period. Finally, Private Advisory Group LLC lifted its holdings in shares of Prologis by 7.4% during the 1st quarter. Private Advisory Group LLC now owns 2,292 shares of the real estate investment trust’s stock valued at $256,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total transaction of $61,570.00. Following the sale, the director directly owned 8,829 shares of the company’s stock, valued at approximately $1,087,203.06. This represents a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 2,000 shares of company stock valued at $230,415. 0.57% of the stock is currently owned by insiders.

Prologis Price Performance

Shares of PLD stock opened at $128.55 on Friday. The firm has a fifty day moving average of $121.56 and a two-hundred day moving average of $113.15. The firm has a market cap of $119.41 billion, a P/E ratio of 37.48, a P/E/G ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $129.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65.

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, topping the consensus estimate of $1.44 by $0.05. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PLD. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and increased their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Mizuho set a $118.00 price target on Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Wells Fargo & Company increased their price objective on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Barclays decreased their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Finally, Scotiabank boosted their price objective on shares of Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $125.39.

About Prologis

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.