State of Alaska Department of Revenue Raises Stock Position in Prologis, Inc. (NYSE:PLD)

State of Alaska Department of Revenue raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 553,928 shares of the real estate investment trust’s stock after acquiring an additional 4,696 shares during the quarter. Prologis makes up about 0.7% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 17th biggest position. State of Alaska Department of Revenue’s holdings in Prologis were worth $58,549,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. ASB Consultores LLC raised its stake in Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares during the period. CX Institutional grew its holdings in Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares in the last quarter. DT Investment Partners LLC grew its holdings in Prologis by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 93 shares in the last quarter. Carmel Capital Partners LLC raised its position in shares of Prologis by 2.6% during the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after buying an additional 94 shares during the last quarter. Finally, Berkshire Bank lifted its holdings in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after buying an additional 95 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PLD. UBS Group raised their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Up 0.4 %

Shares of NYSE PLD opened at $118.82 on Thursday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The company has a market cap of $110.05 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 2.66 and a beta of 1.10. The business’s 50 day moving average price is $111.07 and its 200-day moving average price is $118.29.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is presently 96.00%.

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.