New York State Common Retirement Fund Purchases 200 Shares of Prologis, Inc. (NYSE:PLD)

New York State Common Retirement Fund lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,190,326 shares of the real estate investment trust’s stock after acquiring an additional 200 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of Prologis worth $125,817,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PLD. State Street Corp lifted its holdings in Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after purchasing an additional 767,609 shares in the last quarter. Geode Capital Management LLC raised its holdings in Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after buying an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after buying an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after buying an additional 8,545,336 shares during the period. Finally, Swedbank AB raised its holdings in Prologis by 1.8% during the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock valued at $486,514,000 after buying an additional 80,575 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $121.21 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The stock has a market capitalization of $112.26 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.64 and a beta of 1.10. The company’s fifty day moving average is $111.98 and its two-hundred day moving average is $117.97. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.17%. Prologis’s dividend payout ratio is currently 96.00%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PLD. Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Truist Financial raised their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, Wolfe Research reduced their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.