State of New Jersey Common Pension Fund D Purchases 4,000 Shares of Prologis, Inc. (NYSE:PLD)

State of New Jersey Common Pension Fund D grew its position in Prologis, Inc. (NYSE:PLD) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,211,219 shares of the real estate investment trust’s stock after buying an additional 4,000 shares during the period. Prologis comprises about 0.5% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 24th biggest holding. State of New Jersey Common Pension Fund D’s holdings in Prologis were worth $161,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of PLD. Thompson Investment Management Inc. acquired a new stake in shares of Prologis during the 4th quarter worth about $28,000. FinTrust Capital Advisors LLC grew its holdings in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Prologis in the 4th quarter valued at $37,000. FNY Investment Advisers LLC bought a new stake in shares of Prologis in the 4th quarter valued at $39,000. Finally, Valley National Advisers Inc. boosted its stake in shares of Prologis by 178.6% in the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock traded up $0.68 during trading hours on Friday, reaching $104.03. The stock had a trading volume of 4,037,573 shares, compared to its average volume of 3,483,233. The stock’s fifty day simple moving average is $125.65 and its 200 day simple moving average is $121.90. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The firm has a market capitalization of $96.23 billion, a PE ratio of 30.43, a PEG ratio of 2.14 and a beta of 1.00.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLD. Morgan Stanley boosted their target price on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group lowered their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday. BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $145.00 to $112.00 in a research note on Monday. Evercore ISI dropped their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Finally, UBS Group dropped their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $134.24.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.