Public Employees Retirement Association of Colorado decreased its position in Prologis, Inc. (NYSE:PLD) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 1,177,696 shares of the real estate investment trust’s stock after selling 8,535 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Prologis were worth $140,770,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of PLD. Eagle Bay Advisors LLC bought a new position in Prologis in the second quarter valued at about $26,000. Logan Capital Management Inc. bought a new position in shares of Prologis in the first quarter worth about $29,000. Strategic Blueprint LLC bought a new position in shares of Prologis in the second quarter worth about $30,000. Meridian Wealth Partners LLC raised its stake in shares of Prologis by 70.3% in the first quarter. Meridian Wealth Partners LLC now owns 441 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 182 shares during the period. Finally, Albion Financial Group UT bought a new position in shares of Prologis in the second quarter worth about $48,000. 93.04% of the stock is currently owned by institutional investors.
Several research firms have recently commented on PLD. Deutsche Bank Aktiengesellschaft raised their price objective on Prologis from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, August 18th. Morgan Stanley raised their price objective on Prologis from $120.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, July 15th. Robert W. Baird raised their price objective on Prologis from $108.00 to $124.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 20th. Truist Securities raised their price objective on Prologis from $123.00 to $137.00 and gave the stock a “buy” rating in a research note on Saturday, July 31st. Finally, Raymond James increased their target price on Prologis from $138.00 to $143.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 21st. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $138.69.
NYSE PLD traded up $1.54 during trading on Thursday, hitting $135.44. 38,320 shares of the stock traded hands, compared to its average volume of 2,544,659. The company has a market capitalization of $100.12 billion, a P/E ratio of 65.07, a price-to-earnings-growth ratio of 4.47 and a beta of 0.72. The firm has a 50-day simple moving average of $131.44 and a 200-day simple moving average of $123.33. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.47. Prologis, Inc. has a 12-month low of $93.08 and a 12-month high of $139.60.
Prologis (NYSE:PLD) last released its quarterly earnings results on Sunday, July 18th. The real estate investment trust reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.37. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Prologis had a return on equity of 4.27% and a net margin of 34.54%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 EPS. As a group, research analysts predict that Prologis, Inc. will post 4.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Friday, September 17th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, September 16th. Prologis’s dividend payout ratio is presently 66.32%.
Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.
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