Police & Firemen s Retirement System of New Jersey Raises Stock Holdings in Prologis, Inc. $PLD

Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.5% during the second quarter, Holdings Channel reports. The fund owned 140,665 shares of the real estate investment trust’s stock after purchasing an additional 6,111 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Prologis were worth $14,787,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Activest Wealth Management lifted its stake in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares during the period. Pandora Wealth Inc. purchased a new stake in Prologis in the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. acquired a new position in Prologis in the 1st quarter valued at $34,000. Saudi Central Bank acquired a new position in Prologis in the 1st quarter valued at $41,000. Finally, Barrett & Company Inc. purchased a new position in shares of Prologis during the 2nd quarter worth $44,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 1.1%

PLD opened at $124.87 on Thursday. The firm’s 50 day moving average is $118.73 and its 200-day moving average is $111.49. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $115.98 billion, a P/E ratio of 36.40, a P/E/G ratio of 3.13 and a beta of 1.29.

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

Prologis Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on PLD shares. Wells Fargo & Company raised their target price on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price for the company in a report on Monday, October 20th. Barclays dropped their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Evercore ISI lifted their price target on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research report on Thursday, October 16th. Finally, Mizuho set a $118.00 price objective on shares of Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.39.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is currently owned by corporate insiders.

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.