New Mexico Educational Retirement Board Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

New Mexico Educational Retirement Board lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 1.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 43,327 shares of the real estate investment trust’s stock after selling 800 shares during the period. New Mexico Educational Retirement Board’s holdings in Prologis were worth $4,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC lifted its position in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 84 shares during the period. Phoenix Financial Ltd. lifted its position in Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock valued at $955,000 after buying an additional 86 shares during the period. CreativeOne Wealth LLC lifted its position in Prologis by 1.7% during the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock valued at $642,000 after buying an additional 100 shares during the period. Focus Financial Network Inc. lifted its position in Prologis by 5.2% during the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust’s stock valued at $234,000 after buying an additional 104 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in Prologis by 9.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Evercore ISI reduced their price target on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. Royal Bank Of Canada reduced their price target on Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. BMO Capital Markets reduced their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Wells Fargo & Company reduced their price objective on Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Finally, Wolfe Research downgraded Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Two research 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, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.53.

Prologis Trading Up 0.5%

Prologis stock opened at $106.84 on Wednesday. The business has a 50-day simple moving average of $106.95 and a two-hundred day simple moving average of $109.49. The company has a market cap of $99.14 billion, a P/E ratio of 26.71, a P/E/G ratio of 2.70 and a beta of 1.23. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.78%. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.