Arizona State Retirement System Purchases 1,941 Shares of Prologis, Inc. (NYSE:PLD)

Arizona State Retirement System lifted its position in Prologis, Inc. (NYSE:PLD) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 267,402 shares of the real estate investment trust’s stock after buying an additional 1,941 shares during the quarter. Arizona State Retirement System’s holdings in Prologis were worth $28,264,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dunhill Financial LLC grew its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Prologis in the 4th quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new stake in Prologis in the 4th quarter worth approximately $34,000. Hara Capital LLC acquired a new stake in Prologis in the 3rd quarter worth approximately $48,000. Finally, Coastline Trust Co acquired a new stake in Prologis in the 3rd quarter worth approximately $52,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE:PLD opened at $124.08 on Thursday. The business’s fifty day moving average price is $115.40 and its two-hundred day moving average price is $118.03. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The stock has a market capitalization of $115.00 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.26%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is 101.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Scotiabank reduced their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Wolfe Research cut their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One research 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was 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. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

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.