Oregon Public Employees Retirement Fund Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Oregon Public Employees Retirement Fund raised its stake in Prologis, Inc. (NYSE:PLD) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,372 shares of the real estate investment trust’s stock after purchasing an additional 110 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Prologis were worth $8,390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ASB Consultores LLC increased its stake in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares during the last quarter. Principle Wealth Partners LLC increased its stake in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares during the last quarter. Black Diamond Financial LLC increased its stake in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares during the last quarter. Carmel Capital Partners LLC increased its stake in Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares during the last quarter. Finally, Berkshire Bank increased its stake in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE PLD opened at $122.11 on Thursday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The business has a 50-day moving average of $113.44 and a 200-day moving average of $118.02. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company has a market capitalization of $113.18 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.31%. Prologis’s payout ratio is 101.00%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on PLD shares. Truist Financial upped their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Robert W. Baird boosted their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Profile

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.