New York State Teachers Retirement System Increases Holdings in Prologis, Inc. $PLD

by · The Markets Daily

New York State Teachers Retirement System raised its stake in Prologis, Inc. (NYSE:PLD – Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 705,466 shares of the real estate investment trust’s stock after buying an additional 9,612 shares during the quarter. New York State Teachers Retirement System’s holdings in Prologis were worth $80,790,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Prologis by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 121,741,332 shares of the real estate investment trust’s stock valued at $12,797,449,000 after acquiring an additional 401,922 shares during the last quarter. State Street Corp boosted its holdings in Prologis by 1.9% in the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock valued at $6,164,325,000 after purchasing an additional 1,088,544 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Prologis by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock valued at $2,345,922,000 after buying an additional 310,333 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Prologis by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock worth $1,735,205,000 after buying an additional 253,338 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Prologis during the 2nd quarter valued at approximately $1,288,936,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Evercore ISI raised their target price on Prologis from $116.00 to $118.00 in a research note on Monday, December 22nd. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective on the stock in a report on Monday, October 20th. UBS Group increased their target price on shares of Prologis from $137.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Prologis in a research report on Monday, December 29th. Finally, Mizuho boosted their price target on shares of Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.18.

Check Out Our Latest Stock Report on Prologis

Prologis Stock Performance

NYSE PLD opened at $129.35 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $120.15 billion, a P/E ratio of 37.71, a P/E/G ratio of 3.79 and a beta of 1.40. The stock has a 50-day moving average of $127.16 and a two-hundred day moving average of $117.58. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $131.70.

Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. The firm had revenue of $2.21 billion during the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. As a group, analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insiders Place Their Bets

In other news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the transaction, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James B. Connor sold 80,000 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $126.58, for a total value of $10,126,400.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 81,121 shares of company stock valued at $10,267,210. 0.57% of the stock is currently owned by company insiders.

Prologis Profile

(Free Report)

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.

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