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

State of New Jersey Common Pension Fund D trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 785,662 shares of the real estate investment trust’s stock after selling 2,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Prologis were worth $83,044,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Dunhill Financial LLC grew its holdings in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Hara Capital LLC purchased a new stake in Prologis in the 3rd quarter valued at $48,000. Coastline Trust Co purchased a new stake in Prologis in the 3rd quarter valued at $52,000. Asset Planning Inc purchased a new position in shares of Prologis during the 4th quarter worth $53,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. UBS Group increased their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Truist Financial increased their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Wolfe Research reduced their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

Shares of NYSE PLD opened at $120.84 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm has a market capitalization of $111.92 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The stock’s 50-day simple moving average is $111.71 and its 200-day simple moving average is $118.09.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

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.