Retirement Systems of Alabama Has $141.68 Million Position in Prologis, Inc. (NYSE:PLD)

Retirement Systems of Alabama reduced its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 3.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,121,949 shares of the real estate investment trust's stock after selling 42,480 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Prologis worth $141,680,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust's stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock worth $456,320,000 after acquiring an additional 2,138,693 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Prologis in the 2nd quarter worth about $203,223,000. AMF Tjanstepension AB lifted its position in Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock valued at $199,343,000 after purchasing an additional 1,358,542 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE PLD traded down $0.55 during mid-day trading on Friday, reaching $111.10. The company had a trading volume of 4,741,234 shares, compared to its average volume of 3,649,725. The company has a 50-day moving average price of $116.67 and a two-hundred day moving average price of $118.96. The stock has a market cap of $102.90 billion, a PE ratio of 33.69, a P/E/G ratio of 3.27 and a beta of 1.07. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52.

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

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.46%. Prologis's payout ratio is currently 116.01%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Scotiabank cut their price target on Prologis from $136.00 to $134.00 and set a "sector outperform" rating on the stock in a report on Wednesday, December 4th. Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. BMO Capital Markets downgraded shares of Prologis from a "market perform" rating to an "underperform" rating and reduced their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $128.88.

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.