Kentucky Trust Co Makes New Investment in Prologis, Inc. (NYSE:PLD)

Kentucky Trust Co bought a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,476 shares of the real estate investment trust’s stock, valued at approximately $156,000.

Several 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 third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC acquired a new position in shares of Prologis during the third quarter valued at approximately $48,000. Coastline Trust Co purchased a new position in shares of Prologis in the third quarter valued at approximately $52,000. Fortitude Family Office LLC boosted its stake in shares of Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 240 shares during the last quarter. Finally, Hanson & Doremus Investment Management raised its stake in Prologis by 42.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 185 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 1.9 %

NYSE:PLD opened at $121.76 on Wednesday. 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 1 year low of $100.82 and a 1 year high of $135.76. The stock has a market cap of $112.77 billion, a P/E ratio of 30.44, a P/E/G ratio of 2.64 and a beta of 1.10. The stock has a 50-day simple moving average of $111.19 and a 200-day simple moving average of $118.14.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.15%. Prologis’s dividend payout ratio is currently 96.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the 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 completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent research reports. Royal Bank of Canada lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Truist Financial increased their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target 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.