Public Sector Pension Investment Board Has $20.36 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Public Sector Pension Investment Board lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 25.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,232 shares of the real estate investment trust’s stock after purchasing an additional 32,604 shares during the period. Public Sector Pension Investment Board’s holdings in Prologis were worth $20,360,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Prologis in the 2nd quarter valued at about $203,223,000. AMF Tjanstepension AB raised its stake in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares during the period. Federated Hermes Inc. lifted its position in shares of Prologis by 326.3% in the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after buying an additional 1,358,542 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Prologis by 137.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock worth $208,518,000 after acquiring an additional 1,075,614 shares during the period. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Prologis by 3,762.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,009,261 shares of the real estate investment trust’s stock worth $113,350,000 after acquiring an additional 983,129 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Evercore ISI raised their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Morgan Stanley upped their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Truist Financial raised their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Scotiabank dropped their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $131.25.

Prologis Stock Performance

Shares of Prologis stock opened at $117.81 on Thursday. The company’s 50 day moving average price is $119.09 and its two-hundred day moving average price is $118.61. The firm has a market capitalization of $109.11 billion, a P/E ratio of 35.59, a P/E/G ratio of 3.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52.

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

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

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.