State of New Jersey Common Pension Fund D Lowers Position in Prologis, Inc. $PLD

State of New Jersey Common Pension Fund D trimmed its stake in Prologis, Inc. (NYSE:PLD) by 2.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 739,742 shares of the real estate investment trust’s stock after selling 18,500 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Prologis were worth $77,762,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PLD. Brighton Jones LLC lifted its stake in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after purchasing an additional 15,078 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Prologis by 19.6% in the 1st quarter. GAMMA Investing LLC now owns 11,926 shares of the real estate investment trust’s stock valued at $1,333,000 after purchasing an additional 1,956 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Prologis by 157.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,421 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 1,479 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Prologis by 2.6% in the 1st quarter. Perigon Wealth Management LLC now owns 8,018 shares of the real estate investment trust’s stock valued at $896,000 after purchasing an additional 206 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Prologis by 34.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 662,303 shares of the real estate investment trust’s stock valued at $74,039,000 after purchasing an additional 167,960 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total value of $57,845.00. Following the sale, the director owned 9,329 shares in the company, valued at $1,079,272.01. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 over the last 90 days. 0.57% of the stock is owned by company insiders.

Prologis Price Performance

PLD stock opened at $126.60 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The stock’s 50 day moving average is $115.20 and its two-hundred day moving average is $109.00. The company has a market capitalization of $117.57 billion, a PE ratio of 36.91, a P/E/G ratio of 3.19 and a beta of 1.28.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $1.43 EPS. Prologis’s revenue for the quarter was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.2%. Prologis’s payout ratio is currently 117.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PLD shares. Citigroup reduced their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a research report on Wednesday, October 8th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Truist Financial reissued a “buy” rating and set a $131.00 price target (up from $120.00) on shares of Prologis in a research report on Monday. Finally, Barclays reduced their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $124.44.

Prologis Company 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.