Prologis, Inc. (NYSE:PLD) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 25.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,232 shares of the real estate investment trust's stock after purchasing an additional 32,604 shares during the quarter. Public Sector Pension Investment Board's holdings in Prologis were worth $20,360,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust's stock worth $1,483,594,000 after acquiring an additional 317,815 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust's stock valued at $1,377,588,000 after purchasing an additional 167,131 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust's stock worth $1,291,743,000 after buying an additional 441,841 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Prologis by 16.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust's stock valued at $767,398,000 after acquiring an additional 958,914 shares during the period. Finally, Swedbank AB lifted its holdings in shares of Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust's stock worth $561,805,000 after acquiring an additional 420,687 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research report on Wednesday, August 28th. Royal Bank of Canada downgraded shares of Prologis from an "outperform" rating to a "sector perform" rating and lifted their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Evercore ISI increased their target price on Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Finally, Bank of America reiterated a "neutral" rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $131.25.

Prologis Stock Performance

Prologis stock traded up $1.63 during trading hours on Thursday, reaching $117.80. 2,655,068 shares of the stock were exchanged, compared to its average volume of 3,654,742. The stock has a market cap of $109.10 billion, a P/E ratio of 35.59, a P/E/G ratio of 3.45 and a beta of 1.08. The firm's 50 day moving average is $119.09 and its 200 day moving average is $118.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52.

Prologis (NYSE:PLD - Get Free Report) 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same period in the prior year, the firm posted $1.30 EPS. Prologis's revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given 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 3.26%. 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.