VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in Prologis, Inc. (NYSE:PLD – Free Report) by 13.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 337,315 shares of the real estate investment trust’s stock after selling 50,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Prologis were worth $43,797,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Prologis during the 2nd quarter worth $14,006,587,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prologis by 4.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,753,884 shares of the real estate investment trust’s stock worth $1,998,709,000 after purchasing an additional 618,467 shares during the period. Dimensional Fund Advisors LP raised its stake in Prologis by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 11,565,453 shares of the real estate investment trust’s stock valued at $1,528,636,000 after purchasing an additional 110,681 shares in the last quarter. Legal & General Group Plc acquired a new position in Prologis in the second quarter valued at about $1,473,965,000. Finally, Bank of America Corp DE bought a new stake in Prologis during the second quarter worth about $1,427,256,000. Institutional investors and hedge funds own 93.50% of the company’s stock.
Prologis Stock Performance
NYSE:PLD opened at $128.09 on Friday. Prologis, Inc. has a 52-week low of $121.40 and a 52-week high of $153.35. The firm has a market cap of $121.75 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.46 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.70 and a current ratio of 0.81. The business’s fifty day moving average is $132.95 and its 200 day moving average is $137.78.
Prologis Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.28 annualized dividend and a yield of 3.3%. Prologis’s dividend payout ratio is presently 94.48%.
Analyst Upgrades and Downgrades
PLD has been the topic of several research analyst reports. Barclays upped their target price on Prologis from $139.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Robert W. Baird cut their price target on Prologis from $140.00 to $136.00 and set a “neutral” rating on the stock in a report on Tuesday, October 20th. UBS Group set a $150.00 price objective on shares of Prologis in a research report on Friday, October 16th. Williams Trading set a $150.00 price objective on shares of Prologis in a research report on Friday, October 16th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Prologis in a research report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $154.68.
Read Our Latest Research Report on PLD
Prologis Profile
Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.
The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.
Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.
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