State of Alaska Department of Revenue Buys 3,668 Shares of Prologis, Inc. (NYSE:PLD)

State of Alaska Department of Revenue boosted its stake in Prologis, Inc. (NYSE:PLD) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 542,831 shares of the real estate investment trust’s stock after purchasing an additional 3,668 shares during the period. Prologis makes up approximately 0.8% of State of Alaska Department of Revenue’s holdings, making the stock its 12th largest position. State of Alaska Department of Revenue owned about 0.06% of Prologis worth $70,687,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PLD. Kestra Advisory Services LLC bought a new stake in shares of Prologis during the 3rd quarter valued at $260,000. Ancora Advisors LLC grew its position in shares of Prologis by 14.1% during the 3rd quarter. Ancora Advisors LLC now owns 874 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 108 shares during the period. AQR Capital Management LLC lifted its stake in shares of Prologis by 7.2% during the 3rd quarter. AQR Capital Management LLC now owns 232,416 shares of the real estate investment trust’s stock valued at $26,079,000 after buying an additional 15,583 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Prologis by 20.6% during the 3rd quarter. Truist Financial Corp now owns 435,136 shares of the real estate investment trust’s stock valued at $48,827,000 after buying an additional 74,260 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in shares of Prologis by 218.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 6,357 shares of the real estate investment trust’s stock valued at $713,000 after buying an additional 4,359 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.0 %

NYSE:PLD traded up $0.02 during mid-day trading on Wednesday, hitting $113.23. 1,339,446 shares of the stock traded hands, compared to its average volume of 3,729,927. The stock has a market capitalization of $104.83 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 2.50 and a beta of 1.06. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The firm’s 50 day moving average is $108.46 and its two-hundred day moving average is $121.45. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.39%. Prologis’s payout ratio is 112.28%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLD. StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. UBS Group lowered their target price 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. Mizuho decreased their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. The Goldman Sachs Group decreased their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Evercore ISI decreased their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $129.76.

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.