Strs Ohio Purchases New Position in Prologis, Inc. $PLD

Strs Ohio purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) during the first quarter, HoldingsChannel.com reports. The firm purchased 879,402 shares of the real estate investment trust’s stock, valued at approximately $98,308,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Prologis by 0.7% during the 1st 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 acquiring an additional 869,310 shares in the last quarter. Nuveen LLC bought a new stake in Prologis during the 1st quarter valued at approximately $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Prologis by 5.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust’s stock valued at $1,125,586,000 after acquiring an additional 505,318 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Prologis by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock valued at $1,173,340,000 after acquiring an additional 93,201 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after acquiring an additional 1,146,454 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD opened at $111.02 on Thursday. The firm has a market cap of $103.05 billion, a PE ratio of 30.09, a P/E/G ratio of 2.81 and a beta of 1.26. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $108.89 and a two-hundred day simple moving average of $108.13. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.39.

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

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. Prologis’s dividend payout ratio (DPR) is presently 109.49%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLD. UBS Group lifted their price objective on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Citigroup dropped their price target on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen cut Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Mizuho set a $118.00 price target on Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Finally, Scotiabank set a $114.00 price target on Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $121.83.

Insider Transactions at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’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 in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’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 transaction, the director owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

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.