Prologis, Inc. (NYSE:PLD) Stake Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its position in shares of Prologis, Inc. (NYSE:PLDGet Rating) by 22.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 608,352 shares of the real estate investment trust’s stock after purchasing an additional 110,585 shares during the quarter. Prologis comprises about 0.9% of State of Alaska Department of Revenue’s portfolio, making the stock its 10th biggest position. State of Alaska Department of Revenue’s holdings in Prologis were worth $68,578,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Prologis by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 97,683,583 shares of the real estate investment trust’s stock worth $9,924,652,000 after purchasing an additional 432,945 shares during the period. BlackRock Inc. increased its holdings in shares of Prologis by 1.0% in the 3rd quarter. BlackRock Inc. now owns 74,679,148 shares of the real estate investment trust’s stock valued at $7,587,402,000 after acquiring an additional 710,141 shares during the period. FMR LLC increased its holdings in shares of Prologis by 6.0% in the 2nd quarter. FMR LLC now owns 24,083,514 shares of the real estate investment trust’s stock valued at $2,833,425,000 after acquiring an additional 1,361,120 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Prologis by 27.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 13,071,004 shares of the real estate investment trust’s stock valued at $1,328,016,000 after acquiring an additional 2,823,799 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Prologis by 10.5% in the 3rd quarter. Nuveen Asset Management LLC now owns 10,522,211 shares of the real estate investment trust’s stock valued at $1,069,056,000 after acquiring an additional 999,809 shares during the period. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLD. Truist Financial lifted their price target on Prologis from $135.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Citigroup lifted their price target on Prologis to $140.00 in a report on Wednesday, December 14th. Morgan Stanley boosted their target price on Prologis from $121.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, January 23rd. Wells Fargo & Company boosted their target price on Prologis to $141.00 in a research note on Wednesday, December 14th. Finally, Barclays dropped their target price on Prologis from $162.00 to $160.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.00.

Prologis Stock Performance

PLD traded down $4.06 on Friday, reaching $116.03. 6,508,942 shares of the stock were exchanged, compared to its average volume of 2,898,638. The company’s 50-day moving average price is $124.51 and its 200 day moving average price is $116.61. Prologis, Inc. has a fifty-two week low of $98.03 and a fifty-two week high of $174.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $107.15 billion, a PE ratio of 26.67, a PEG ratio of 3.07 and a beta of 0.99.

Prologis (NYSE:PLDGet Rating) last issued its quarterly earnings data on Wednesday, January 18th. The real estate investment trust reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.03. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Prologis had a return on equity of 7.71% and a net margin of 56.33%. The company’s revenue for the quarter was up 37.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.52 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, March 16th. This is a boost from Prologis’s previous quarterly dividend of $0.79. Prologis’s payout ratio is 80.00%.

Prologis Company Profile

(Get Rating)

Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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