Louisiana State Employees Retirement System Sells 2,300 Shares of Prologis, Inc. (NYSE:PLD)

Louisiana State Employees Retirement System lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,800 shares of the real estate investment trust’s stock after selling 2,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Prologis were worth $5,264,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PLD. AMF Tjanstepension AB lifted its position in shares of Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares during the period. Exchange Traded Concepts LLC increased its stake in Prologis by 29.6% in the third quarter. Exchange Traded Concepts LLC now owns 6,229 shares of the real estate investment trust’s stock valued at $787,000 after purchasing an additional 1,424 shares in the last quarter. Procyon Advisors LLC raised its holdings in shares of Prologis by 60.1% during the third quarter. Procyon Advisors LLC now owns 4,717 shares of the real estate investment trust’s stock valued at $595,000 after purchasing an additional 1,771 shares during the period. Fiduciary Alliance LLC bought a new position in shares of Prologis during the 3rd quarter worth about $208,000. Finally, CX Institutional grew its stake in shares of Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Down 1.6 %

PLD stock opened at $119.81 on Thursday. The stock has a market cap of $110.96 billion, a P/E ratio of 29.95, a P/E/G ratio of 2.64 and a beta of 1.10. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock’s fifty day simple moving average is $111.29 and its two-hundred day simple moving average is $118.14. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.21%. Prologis’s payout ratio is currently 96.00%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PLD shares. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird upped their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Barclays raised their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Scotiabank decreased their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. Finally, Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Activity at Prologis

In other Prologis 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Prologis 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.