VIRGINIA RETIREMENT SYSTEMS ET Al Has $53.88 Million Stock Position in Prologis, Inc. $PLD

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Prologis, Inc. (NYSE:PLD) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 470,520 shares of the real estate investment trust’s stock after buying an additional 31,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.05% of Prologis worth $53,884,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Prologis in the 2nd quarter worth approximately $1,288,936,000. Franklin Resources Inc. raised its position in Prologis by 216.0% in the 2nd quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust’s stock valued at $1,056,545,000 after purchasing an additional 6,870,479 shares during the last quarter. State Street Corp raised its position in Prologis by 1.9% in the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock valued at $6,164,325,000 after purchasing an additional 1,088,544 shares during the last quarter. Strs Ohio acquired a new position in Prologis in the first quarter worth $98,308,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Prologis by 11,585.8% during the second quarter. Balyasny Asset Management L.P. now owns 882,398 shares of the real estate investment trust’s stock worth $92,758,000 after purchasing an additional 874,847 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Transactions at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the transaction, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLD. Industrial Alliance Securities set a $119.00 price target on Prologis in a report on Monday, October 20th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price for the company in a research note on Monday, October 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Prologis in a research note on Monday. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Finally, Mizuho increased their price objective on Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $127.00.

Prologis Price Performance

Shares of PLD stock opened at $128.96 on Wednesday. The firm’s 50 day moving average price is $126.69 and its two-hundred day moving average price is $116.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $131.70. The stock has a market cap of $119.79 billion, a PE ratio of 37.60, a PEG ratio of 3.95 and a beta of 1.39.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company had revenue of $2.21 billion during the quarter. As a group, analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.1%. Prologis’s dividend payout ratio is presently 117.78%.

About Prologis

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.