Texas Permanent School Fund Corp Has $21.42 Million Stake in Prologis, Inc. (NYSE:PLD)

Texas Permanent School Fund Corp trimmed its position in Prologis, Inc. (NYSE:PLDFree Report) by 1.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 190,892 shares of the real estate investment trust’s stock after selling 2,750 shares during the period. Texas Permanent School Fund Corp’s holdings in Prologis were worth $21,420,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. VitalStone Financial LLC bought a new position in shares of Prologis during the 2nd quarter valued at approximately $27,000. DHJJ Financial Advisors Ltd. bought a new position in shares of Prologis during the 3rd quarter valued at approximately $29,000. FinTrust Capital Advisors LLC grew its position in shares of Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 232 shares during the period. Fairfield Bush & CO. bought a new position in shares of Prologis during the 2nd quarter valued at approximately $35,000. Finally, ST Germain D J Co. Inc. bought a new position in shares of Prologis during the 2nd quarter valued at approximately $36,000. 90.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Prologis news, Director James B. Connor sold 103,331 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $133.20, for a total value of $13,763,689.20. Following the sale, the director now owns 21,419 shares of the company’s stock, valued at approximately $2,853,010.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis Trading Up 2.0 %

Shares of PLD stock traded up $2.57 on Thursday, hitting $131.66. 3,245,752 shares of the company’s stock traded hands, compared to its average volume of 3,275,272. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.43 and a current ratio of 0.09. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company’s fifty day simple moving average is $128.62 and its 200 day simple moving average is $119.67. The stock has a market capitalization of $121.65 billion, a price-to-earnings ratio of 39.24, a P/E/G ratio of 2.61 and a beta of 1.00.

Prologis (NYSE:PLDGet Free Report) last released its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the business posted $1.24 EPS. Prologis’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts forecast that Prologis, Inc. will post 5.51 EPS for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Friday, December 15th. Prologis’s dividend payout ratio (DPR) is presently 105.78%.

Wall Street Analyst Weigh In

A number of analysts recently commented on PLD shares. JPMorgan Chase & Co. upgraded shares of Prologis from a “neutral” rating to an “overweight” rating and upped their price target for the company from $123.00 to $148.00 in a research note on Monday, December 18th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $130.00 target price on shares of Prologis in a research note on Tuesday, November 21st. Robert W. Baird increased their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Mizuho increased their price target on shares of Prologis from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.50.

Check Out Our Latest Report on PLD

About Prologis

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 30, 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 (114 million square meters) in 19 countries.

Further Reading

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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