Prologis, Inc. (NYSE:PLD) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,628 shares of the real estate investment trust’s stock after selling 876 shares during the period. Kentucky Retirement Systems’ holdings in Prologis were worth $6,725,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PLD. ASB Consultores LLC boosted its stake in Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 86 shares during the last quarter. Principle Wealth Partners LLC raised its holdings in shares of Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after acquiring an additional 92 shares during the period. DT Investment Partners LLC boosted its position in shares of Prologis by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 93 shares during the last quarter. Carmel Capital Partners LLC grew its holdings in shares of Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares during the period. Finally, Berkshire Bank grew its holdings in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Robert W. Baird increased their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Trading Down 0.6 %

PLD opened at $120.90 on Friday. The business has a fifty day moving average price of $112.36 and a 200 day moving average price of $118.01. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The stock has a market capitalization of $112.05 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.71 and a beta of 1.10.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.34%. Prologis’s payout ratio is currently 96.00%.

Prologis Company 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.