New York State Teachers Retirement System Sells 31,432 Shares of Prologis, Inc. (NYSE:PLD)

New York State Teachers Retirement System decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 3.8% in the third quarter, HoldingsChannel reports. The firm owned 787,357 shares of the real estate investment trust’s stock after selling 31,432 shares during the quarter. New York State Teachers Retirement System’s holdings in Prologis were worth $99,427,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Avitas Wealth Management LLC lifted its stake in Prologis by 1.3% in the third quarter. Avitas Wealth Management LLC now owns 35,856 shares of the real estate investment trust’s stock worth $4,528,000 after acquiring an additional 468 shares during the period. Childress Capital Advisors LLC raised its holdings in Prologis by 6.3% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,526 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 149 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in shares of Prologis by 1.6% in the 3rd quarter. Fidelis Capital Partners LLC now owns 8,999 shares of the real estate investment trust’s stock worth $1,087,000 after purchasing an additional 146 shares during the period. Tyche Wealth Partners LLC boosted its stake in shares of Prologis by 7.2% during the 3rd quarter. Tyche Wealth Partners LLC now owns 2,110 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 141 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its position in shares of Prologis by 2.4% during the third quarter. Integrated Advisors Network LLC now owns 5,442 shares of the real estate investment trust’s stock valued at $687,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was 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 $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock traded up $1.52 during trading on Wednesday, hitting $116.83. 216,444 shares of the company’s stock traded hands, compared to its average volume of 3,629,947. Prologis, Inc. has a 1 year low of $98.82 and a 1 year high of $137.52. The business has a 50-day simple moving average of $124.75 and a 200-day simple moving average of $117.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $108.17 billion, a P/E ratio of 34.76, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 earnings per share. As a group, analysts forecast that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 3.29%. Prologis’s payout ratio is 116.01%.

Analyst Ratings Changes

Several analysts have weighed in on PLD shares. JPMorgan Chase & Co. cut their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $131.12.

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.