Teacher Retirement System of Texas Acquires 48,416 Shares of Prologis, Inc. (NYSE:PLD)

Teacher Retirement System of Texas boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 781.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,615 shares of the real estate investment trust’s stock after acquiring an additional 48,416 shares during the period. Teacher Retirement System of Texas’ holdings in Prologis were worth $5,773,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Empirical Asset Management LLC grew its stake in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. grew its stake in Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after acquiring an additional 25,266 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after acquiring an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in Prologis during the third quarter valued at approximately $1,051,000. Finally, The Manufacturers Life Insurance Company grew its stake in Prologis by 1.3% during the third quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock valued at $92,048,000 after acquiring an additional 9,147 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 3.4 %

NYSE:PLD opened at $108.27 on Monday. The company has a fifty day moving average of $117.54 and a 200 day moving average of $116.92. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $100.35 billion, a P/E ratio of 27.07, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. BTIG Research cut their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Robert W. Baird boosted their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Truist Financial boosted their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.