State of New Jersey Common Pension Fund D Grows Position in Prologis, Inc. (NYSE:PLD)

State of New Jersey Common Pension Fund D lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,211,219 shares of the real estate investment trust’s stock after buying an additional 4,000 shares during the period. Prologis makes up 0.5% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 24th biggest position. State of New Jersey Common Pension Fund D owned about 0.13% of Prologis worth $161,455,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Bailard Inc. boosted its position in shares of Prologis by 0.3% during the fourth quarter. Bailard Inc. now owns 100,533 shares of the real estate investment trust’s stock valued at $13,401,000 after buying an additional 296 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Prologis by 3.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,856 shares of the real estate investment trust’s stock worth $2,780,000 after purchasing an additional 608 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in Prologis by 33.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 17,486 shares of the real estate investment trust’s stock worth $2,331,000 after purchasing an additional 4,345 shares during the last quarter. South Dakota Investment Council boosted its position in Prologis by 4.1% in the fourth quarter. South Dakota Investment Council now owns 163,133 shares of the real estate investment trust’s stock worth $21,746,000 after purchasing an additional 6,500 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in Prologis in the fourth quarter worth about $688,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PLD shares. Morgan Stanley raised their target price on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Royal Bank of Canada raised their target price on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. UBS Group lowered their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Raymond James lifted their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. Finally, The Goldman Sachs Group decreased their target price on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.24.

Prologis Trading Up 0.7 %

Shares of NYSE PLD traded up $0.68 during trading hours on Friday, hitting $104.03. 4,037,573 shares of the company traded hands, compared to its average volume of 3,483,233. The stock has a market capitalization of $96.23 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average price is $125.65 and its 200 day moving average price is $121.90. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.69%. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 112.28%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.