State of Alaska Department of Revenue Sells 12,564 Shares of Prologis, Inc. (NYSE:PLD)

State of Alaska Department of Revenue decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,163 shares of the real estate investment trust’s stock after selling 12,564 shares during the period. Prologis accounts for 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 $71,869,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. bought a new position in shares of Prologis during the fourth quarter valued at about $28,000. VitalStone Financial LLC bought a new position in shares of Prologis during the 2nd quarter worth approximately $27,000. DHJJ Financial Advisors Ltd. bought a new position in shares of Prologis during the 3rd quarter worth approximately $29,000. FinTrust Capital Advisors LLC boosted its stake in shares of Prologis by 966.7% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 232 shares during the last quarter. Finally, Salem Investment Counselors Inc. bought a new position in shares of Prologis in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Scotiabank lifted their target price on shares of Prologis from $134.00 to $143.00 and gave the company a “sector outperform” rating in a research report on Friday, December 15th. Mizuho upped their target price on shares of Prologis from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Royal Bank of Canada raised their price target on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Raymond James increased their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. Finally, Robert W. Baird boosted their target price on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $141.67.

Prologis Trading Up 1.1 %

NYSE PLD traded up $1.36 during trading on Friday, hitting $130.22. The company had a trading volume of 3,676,095 shares, compared to its average volume of 2,997,395. The company’s fifty day moving average is $130.64 and its 200-day moving average is $121.75. The company has a market cap of $120.46 billion, a price-to-earnings ratio of 39.58, a price-to-earnings-growth ratio of 2.58 and a beta of 1.00. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. Prologis’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 earnings per share. On average, sell-side analysts predict that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 2.95%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is presently 116.72%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.