California Public Employees Retirement System Purchases 397,356 Shares of Prologis, Inc. (NYSE:PLD)

California Public Employees Retirement System grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,802,310 shares of the real estate investment trust’s stock after buying an additional 397,356 shares during the quarter. California Public Employees Retirement System’s holdings in Prologis were worth $296,204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. Empirical Asset Management LLC grew its position in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. boosted its stake 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 valued at $94,391,000 after purchasing an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after purchasing an additional 179,880 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Prologis in the third quarter worth about $1,051,000. Finally, Banco Santander S.A. increased its stake in Prologis by 88.0% in the 4th quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust’s stock worth $495,000 after buying an additional 2,192 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Prologis Trading Down 0.3 %

NYSE:PLD opened at $110.37 on Friday. The stock has a market capitalization of $102.29 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $117.74 and a 200 day moving average of $116.34.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wolfe Research lowered their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Royal Bank of Canada increased their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

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.