VIRGINIA RETIREMENT SYSTEMS ET Al Sells 50,300 Shares of Prologis, Inc. $PLD

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in Prologis, Inc. (NYSE:PLD) by 13.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 337,315 shares of the real estate investment trust’s stock after selling 50,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Prologis were worth $43,797,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sandy Cove Advisors LLC grew its position in shares of Prologis by 1.9% during the second quarter. Sandy Cove Advisors LLC now owns 3,854 shares of the real estate investment trust’s stock valued at $522,000 after purchasing an additional 73 shares in the last quarter. CoreCap Advisors LLC raised its holdings in shares of Prologis by 5.0% during the 2nd quarter. CoreCap Advisors LLC now owns 1,538 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 73 shares in the last quarter. Boltwood Capital Management boosted its position in shares of Prologis by 1.5% during the 2nd quarter. Boltwood Capital Management now owns 5,170 shares of the real estate investment trust’s stock valued at $700,000 after acquiring an additional 75 shares during the last quarter. Hibernia Wealth Partners LLC grew its holdings in shares of Prologis by 2.5% in the first quarter. Hibernia Wealth Partners LLC now owns 3,070 shares of the real estate investment trust’s stock valued at $406,000 after purchasing an additional 76 shares in the last quarter. Finally, Quadrant Private Wealth Management LLC grew its holdings in shares of Prologis by 4.4% in the first quarter. Quadrant Private Wealth Management LLC now owns 1,818 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of a number of analyst reports. KeyCorp reaffirmed a “sector weight” rating on shares of Prologis in a report on Monday, October 19th. Wells Fargo & Company decreased their price objective on Prologis from $167.00 to $166.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 1st. Robert W. Baird lowered their price objective on Prologis from $140.00 to $136.00 and set a “neutral” rating for the company in a research note on Tuesday, October 20th. Mizuho lifted their target price on Prologis from $150.00 to $159.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, Barclays boosted their target price on Prologis from $139.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $154.68.

Prologis Price Performance

PLD opened at $128.09 on Friday. The business has a fifty day moving average of $132.95 and a 200 day moving average of $137.78. The stock has a market cap of $121.75 billion, a P/E ratio of 28.28, a PEG ratio of 1.46 and a beta of 1.31. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 52-week low of $121.40 and a 52-week high of $153.35.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Wednesday, September 16th. Prologis’s dividend payout ratio (DPR) is 94.48%.

Prologis Profile

Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.

The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.

Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.