California Public Employees Retirement System Buys 397,356 Shares of Prologis, Inc. (NYSE:PLD)

California Public Employees Retirement System raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 16.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,802,310 shares of the real estate investment trust's stock after purchasing an additional 397,356 shares during the period. California Public Employees Retirement System owned approximately 0.30% of Prologis worth $296,204,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. Norges Bank bought a new stake in Prologis in the 4th quarter valued at approximately $951,263,000. Raymond James Financial Inc. bought a new stake in shares of Prologis in the fourth quarter worth $254,876,000. Janus Henderson Group PLC boosted its holdings in Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock worth $456,320,000 after purchasing an additional 2,138,693 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Prologis by 83.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after purchasing an additional 1,723,129 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Prologis by 395.3% in the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust's stock valued at $109,858,000 after purchasing an additional 829,504 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have recently commented on PLD. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a report on Friday, January 17th. Robert W. Baird increased their price target on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Truist Financial boosted their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Scotiabank reduced their price target on Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a report on Monday, January 27th. Finally, Raymond James reissued a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents 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. Corporate insiders own 0.50% of the company's stock.

Prologis Trading Up 1.0 %

Shares of NYSE PLD traded up $1.07 during midday trading on Wednesday, reaching $112.52. The stock had a trading volume of 3,229,150 shares, compared to its average volume of 3,923,229. The company's 50 day moving average price is $117.67 and its 200 day moving average price is $115.98. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The firm has a market cap of $104.29 billion, a price-to-earnings ratio of 28.13, 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 was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is presently 101.00%.

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.