New York State Teachers Retirement System Has $79.44 Million Holdings in Prologis, Inc. (NYSE:PLD)

New York State Teachers Retirement System cut its position in shares of Prologis, Inc. (NYSE:PLD) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 751,562 shares of the real estate investment trust’s stock after selling 35,795 shares during the quarter. New York State Teachers Retirement System’s holdings in Prologis were worth $79,440,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Empirical Asset Management LLC increased its position in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares during the period. Cardano Risk Management B.V. increased its position in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after buying an additional 29,400 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in shares of Prologis during the third quarter worth $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Prologis during the third quarter worth $7,371,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent analyst reports. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Mizuho cut their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Wolfe Research cut their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Performance

Shares of PLD stock opened at $121.07 on Friday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The firm has a 50-day moving average of $111.39 and a 200-day moving average of $118.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The company has a market cap of $112.13 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.64 and a beta of 1.10.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.17%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 completion of the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % 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. 0.50% of the stock is currently owned by corporate insiders.

Prologis Company 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.