National Pension Service Acquires 244,709 Shares of Prologis, Inc. (NYSE:PLD)

National Pension Service lifted its position in Prologis, Inc. (NYSE:PLD) by 13.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,022,234 shares of the real estate investment trust’s stock after purchasing an additional 244,709 shares during the quarter. National Pension Service’s holdings in Prologis were worth $255,368,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Klingenstein Fields & Co. LP increased its holdings in shares of Prologis by 0.8% in the third quarter. Klingenstein Fields & Co. LP now owns 187,671 shares of the real estate investment trust’s stock worth $23,699,000 after purchasing an additional 1,408 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Prologis by 8.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 510,669 shares of the real estate investment trust’s stock worth $64,487,000 after purchasing an additional 39,290 shares during the period. BSW Wealth Partners increased its holdings in shares of Prologis by 12.9% in the third quarter. BSW Wealth Partners now owns 3,816 shares of the real estate investment trust’s stock worth $482,000 after purchasing an additional 436 shares during the period. Van ECK Associates Corp increased its holdings in shares of Prologis by 11.1% in the third quarter. Van ECK Associates Corp now owns 451,236 shares of the real estate investment trust’s stock worth $54,523,000 after purchasing an additional 45,045 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Prologis by 4.4% in the third quarter. Janney Montgomery Scott LLC now owns 442,932 shares of the real estate investment trust’s stock worth $55,934,000 after purchasing an additional 18,465 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PLD shares. Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays cut their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Morgan Stanley upped their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.12.

Prologis Stock Performance

NYSE PLD opened at $114.33 on Monday. The company has a 50-day simple moving average of $124.01 and a two-hundred day simple moving average of $117.41. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The firm has a market cap of $105.89 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.96 and a beta of 1.08.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. On average, equities analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.36%. Prologis’s dividend payout ratio is currently 116.01%.

About Prologis

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.