Prologis, Inc. (NYSE:PLD) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 10.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 43,070 shares of the real estate investment trust’s stock after selling 4,957 shares during the period. New Mexico Educational Retirement Board’s holdings in Prologis were worth $5,609,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares during the period. Principal Financial Group Inc. boosted its position in Prologis by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after buying an additional 123,902 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Prologis by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after buying an additional 175,276 shares during the period. Ameriprise Financial Inc. boosted its position in Prologis by 0.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,981,242 shares of the real estate investment trust’s stock valued at $1,008,898,000 after buying an additional 76,605 shares during the period. Finally, Norges Bank purchased a new position in Prologis in the 4th quarter valued at approximately $1,074,648,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.9 %

NYSE:PLD traded up $0.96 during midday trading on Friday, hitting $112.31. 5,436,382 shares of the company were exchanged, compared to its average volume of 4,492,900. The company has a fifty day simple moving average of $108.14 and a 200 day simple moving average of $121.83. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $103.98 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.42%. Prologis’s dividend payout ratio is currently 112.28%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Robert W. Baird decreased their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Argus decreased their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Mizuho decreased their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Evercore ISI decreased their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday, April 18th. Finally, Royal Bank of Canada decreased their price objective on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $129.76.

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.