Prologis, Inc. (NYSE:PLD) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its stake in Prologis, Inc. (NYSE:PLD) by 19.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,626 shares of the real estate investment trust’s stock after selling 37,367 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Prologis were worth $17,254,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Davis Selected Advisers lifted its position in shares of Prologis by 30.7% in the second quarter. Davis Selected Advisers now owns 236,886 shares of the real estate investment trust’s stock valued at $26,605,000 after acquiring an additional 55,630 shares in the last quarter. Longfellow Investment Management Co. LLC raised its position in shares of Prologis by 88.1% in the second quarter. Longfellow Investment Management Co. LLC now owns 5,894 shares of the real estate investment trust’s stock valued at $662,000 after buying an additional 2,761 shares during the last quarter. Choreo LLC purchased a new position in shares of Prologis in the second quarter worth about $2,090,000. Wedbush Securities Inc. boosted its position in Prologis by 11.7% during the second quarter. Wedbush Securities Inc. now owns 11,548 shares of the real estate investment trust’s stock worth $1,297,000 after acquiring an additional 1,206 shares during the last quarter. Finally, Prudential PLC lifted its stake in Prologis by 4.9% in the 2nd quarter. Prudential PLC now owns 40,921 shares of the real estate investment trust’s stock worth $4,596,000 after purchasing an additional 1,905 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Prologis Trading Up 1.1 %

Prologis stock traded up $1.36 during midday trading on Monday, reaching $128.59. 855,296 shares of the stock traded hands, compared to its average volume of 3,600,660. The firm has a market cap of $119.06 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $122.67 and a two-hundred day simple moving average of $118.83. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business earned $1.83 EPS. The business’s quarterly revenue was down 18.1% on a year-over-year basis. Research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.96 per share. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 2.99%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Analyst Ratings Changes

PLD has been the subject of a number of analyst reports. Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays lifted their price target on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group lifted their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Bank of America restated a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.12.

Prologis 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.