Maryland State Retirement & Pension System Sells 3,673 Shares of Prologis, Inc. (NYSE:PLD)

Maryland State Retirement & Pension System trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,618 shares of the real estate investment trust’s stock after selling 3,673 shares during the period. Maryland State Retirement & Pension System’s holdings in Prologis were worth $5,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Centricity Wealth Management LLC bought a new position in shares of Prologis during the 4th quarter worth $30,000. Dunhill Financial LLC boosted its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Whipplewood Advisors LLC purchased a new position in shares of Prologis in the fourth quarter worth about $34,000. Promus Capital LLC bought a new stake in shares of Prologis in the fourth quarter valued at approximately $34,000. Finally, Asset Planning Inc purchased a new stake in shares of Prologis during the 4th quarter valued at approximately $53,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLD has been the topic of a number of analyst reports. Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Up 0.6 %

Shares of NYSE:PLD opened at $113.03 on Thursday. The stock’s 50-day moving average price is $117.31 and its 200-day moving average price is $117.25. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The stock has a market capitalization of $104.77 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.57%. Prologis’s payout ratio is 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by 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.