Louisiana State Employees Retirement System Cuts Stake in Prologis, Inc. $PLD

Louisiana State Employees Retirement System reduced its position in Prologis, Inc. (NYSE:PLD) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 49,000 shares of the real estate investment trust’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Prologis were worth $5,151,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PLD. Nuveen LLC purchased a new position in Prologis in the first quarter worth $1,456,768,000. Valeo Financial Advisors LLC grew its holdings in Prologis by 282.5% in the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust’s stock worth $433,229,000 after purchasing an additional 2,862,183 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Prologis by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock worth $1,113,994,000 after purchasing an additional 1,146,454 shares during the last quarter. Strs Ohio acquired a new stake in shares of Prologis during the first quarter worth $98,308,000. Finally, Vanguard Group Inc. grew its holdings in shares of Prologis by 0.7% during the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock valued at $13,564,533,000 after buying an additional 869,310 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PLD shares. Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research note on Wednesday. Barclays reduced their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Evercore ISI raised their target price on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Scotiabank set a $114.00 target price on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Finally, Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.58.

Insider Transactions at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,500 shares of company stock valued at $2,952,095. Insiders own 0.57% of the company’s stock.

Prologis Trading Up 0.1%

NYSE PLD opened at $116.07 on Thursday. The company has a market capitalization of $107.79 billion, a PE ratio of 31.46, a P/E/G ratio of 2.93 and a beta of 1.28. The company has a fifty day moving average of $111.51 and a 200 day moving average of $107.74. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. Prologis’s dividend payout ratio is 109.49%.

About Prologis

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.