Louisiana State Employees Retirement System Cuts Holdings in Prologis, Inc. (NYSE:PLD)

Louisiana State Employees Retirement System lowered its holdings in Prologis, Inc. (NYSE:PLD) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,100 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Prologis were worth $6,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWC Advisors LLC. bought a new stake in Prologis in the 3rd quarter worth approximately $220,000. Lake Street Advisors Group LLC raised its stake in Prologis by 2.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 9,171 shares of the real estate investment trust’s stock worth $1,158,000 after acquiring an additional 188 shares during the period. Tandem Capital Management Corp ADV lifted its stake in shares of Prologis by 1.6% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 19,427 shares of the real estate investment trust’s stock valued at $2,530,000 after buying an additional 310 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of Prologis by 8.5% in the third quarter. Ballentine Partners LLC now owns 15,268 shares of the real estate investment trust’s stock valued at $1,928,000 after acquiring an additional 1,199 shares in the last quarter. Finally, Freedom Day Solutions LLC bought a new position in Prologis in the 3rd quarter worth approximately $208,000. 93.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PLD shares. Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Scotiabank decreased their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. JPMorgan Chase & Co. lowered their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Eight 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 company’s stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Down 2.4 %

NYSE:PLD opened at $117.52 on Friday. The company has a market cap of $108.81 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $125.17 and a 200-day simple moving average of $117.56.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. Analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.27%. Prologis’s payout ratio is currently 112.28%.

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.