Teachers Retirement System of The State of Kentucky Decreases Holdings in Prologis, Inc. (NYSE:PLD)

Teachers Retirement System of The State of Kentucky reduced its stake in Prologis, Inc. (NYSE:PLD) by 5.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 69,101 shares of the real estate investment trust’s stock after selling 4,338 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Prologis were worth $8,726,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PLD. Toronto Dominion Bank lifted its stake in Prologis by 1.3% in the third quarter. Toronto Dominion Bank now owns 461,064 shares of the real estate investment trust’s stock valued at $58,223,000 after purchasing an additional 6,002 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Prologis by 4.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 51,589 shares of the real estate investment trust’s stock valued at $6,502,000 after buying an additional 2,081 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after buying an additional 194,472 shares during the last quarter. Prestige Wealth Management Group LLC increased its holdings in Prologis by 1,595.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 12,445 shares of the real estate investment trust’s stock worth $1,572,000 after acquiring an additional 11,711 shares during the last quarter. Finally, Brophy Wealth Management LLC bought a new stake in Prologis in the 3rd quarter valued at about $354,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLD. Raymond James reiterated an “outperform” rating and set a $125.00 target price (down previously from $130.00) on shares of Prologis in a research report on Wednesday. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Scotiabank lowered their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. JPMorgan Chase & Co. reduced their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Evercore ISI raised their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.88.

Prologis Stock Down 0.3 %

PLD opened at $111.68 on Friday. The business’s fifty day simple moving average is $116.88 and its 200 day simple moving average is $119.01. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $103.44 billion, a PE ratio of 33.83, a P/E/G ratio of 3.27 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. As a group, research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.96 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.44%. Prologis’s payout ratio is 116.01%.

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.