Public Employees Retirement System of Ohio Trims Position in Prologis, Inc. (NYSE:PLD)

Public Employees Retirement System of Ohio cut its position in Prologis, Inc. (NYSE:PLD) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,709,352 shares of the real estate investment trust’s stock after selling 29,083 shares during the period. Prologis comprises 0.6% of Public Employees Retirement System of Ohio’s portfolio, making the stock its 21st largest holding. Public Employees Retirement System of Ohio owned approximately 0.18% of Prologis worth $180,679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. Aviva PLC boosted its position in shares of Prologis by 36.6% during the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock worth $73,481,000 after acquiring an additional 186,187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after acquiring an additional 179,880 shares during the last quarter. Allstate Corp boosted its position in shares of Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock worth $7,877,000 after acquiring an additional 39,321 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after purchasing an additional 334,907 shares during the last quarter. Finally, Banco Santander S.A. lifted its position in Prologis by 88.0% during the fourth quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 2,192 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLD. Wells Fargo & Company lowered their price objective on shares of Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a research report on Monday. Truist Financial lowered their price objective on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 5th. UBS Group increased their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Mizuho lowered their price objective on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $120.42.

Prologis Trading Up 0.3%

PLD stock opened at $104.99 on Friday. The company has a market capitalization of $97.42 billion, a PE ratio of 26.25, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The firm’s 50-day moving average is $104.43 and its 200 day moving average is $110.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. On average, research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s dividend payout ratio is presently 101.00%.

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.