Teacher Retirement System of Texas Buys 48,416 Shares of Prologis, Inc. (NYSE:PLD)

Teacher Retirement System of Texas increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 781.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,615 shares of the real estate investment trust’s stock after acquiring an additional 48,416 shares during the quarter. Teacher Retirement System of Texas’ holdings in Prologis were worth $5,773,000 at the end of the most recent quarter.

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

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $108.27 on Monday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The company has a 50-day simple moving average of $117.54 and a 200 day simple moving average of $116.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market capitalization of $100.35 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.73%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLD. UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. Royal Bank of Canada increased their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, Mizuho lowered their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average 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.