Teacher Retirement System of Texas boosted its position in Prologis, Inc. (NYSE:PLD) by 17.6% in the third quarter, Holdings Channel.com reports. The firm owned 240,366 shares of the real estate investment trust’s stock after purchasing an additional 35,979 shares during the quarter. Teacher Retirement System of Texas’ holdings in Prologis were worth $30,149,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP bought a new stake in shares of Prologis during the 1st quarter valued at about $57,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Prologis by 12.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 136,767 shares of the real estate investment trust’s stock worth $16,348,000 after purchasing an additional 15,566 shares during the last quarter. Resources Investment Advisors LLC. purchased a new stake in shares of Prologis in the second quarter worth approximately $207,000. Centaurus Financial Inc. increased its position in shares of Prologis by 11.4% during the second quarter. Centaurus Financial Inc. now owns 1,590 shares of the real estate investment trust’s stock valued at $190,000 after acquiring an additional 163 shares during the last quarter. Finally, Atria Investments LLC increased its position in shares of Prologis by 4.3% during the second quarter. Atria Investments LLC now owns 49,799 shares of the real estate investment trust’s stock valued at $5,952,000 after acquiring an additional 2,051 shares during the last quarter. 92.23% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:PLD traded up $1.00 during trading on Wednesday, reaching $153.99. 9,264 shares of the company were exchanged, compared to its average volume of 3,547,292. The firm has a market capitalization of $113.85 billion, a PE ratio of 57.73, a P/E/G ratio of 5.07 and a beta of 0.81. The business’s fifty day simple moving average is $156.11 and its 200-day simple moving average is $140.12. Prologis, Inc. has a 12-month low of $93.08 and a 12-month high of $169.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.41 and a quick ratio of 0.41.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Tuesday, December 14th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, December 13th. This represents a $2.52 annualized dividend and a dividend yield of 1.64%. Prologis’s payout ratio is currently 95.09%.
In other news, Director William D. Zollars sold 1,955 shares of the business’s stock in a transaction dated Wednesday, December 22nd. The shares were sold at an average price of $162.26, for a total transaction of $317,218.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William D. Zollars sold 1,380 shares of the business’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $146.20, for a total transaction of $201,756.00. The disclosure for this sale can be found here. Insiders have sold 323,335 shares of company stock valued at $46,681,516 over the last 90 days. 0.87% of the stock is currently owned by insiders.
A number of analysts have issued reports on PLD shares. The Goldman Sachs Group raised Prologis from a “buy” rating to a “conviction-buy” rating and raised their target price for the stock from $166.00 to $180.00 in a research report on Thursday, October 21st. Royal Bank of Canada lifted their price objective on Prologis from $144.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. Raymond James raised their price target on Prologis from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Monday. Morgan Stanley raised their price target on Prologis from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, December 15th. Finally, Wells Fargo & Company lifted their price objective on Prologis from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 19th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $152.07.
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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