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

Kentucky Retirement Systems lessened its position in Prologis, Inc. (NYSE:PLD) by 7.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 64,504 shares of the real estate investment trust’s stock after selling 5,264 shares during the period. Kentucky Retirement Systems’ holdings in Prologis were worth $8,146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PLD. Swedbank AB grew its holdings in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after buying an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after purchasing an additional 43,235 shares during the last quarter. Sunflower Bank N.A. purchased a new position in Prologis during the third quarter worth approximately $249,000. Cetera Advisors LLC boosted its holdings in shares of Prologis by 118.7% in the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after purchasing an additional 20,623 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Prologis by 143.1% during the 1st quarter. Intech Investment Management LLC now owns 26,843 shares of the real estate investment trust’s stock worth $3,495,000 after buying an additional 15,802 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Down 1.2 %

PLD stock opened at $113.38 on Friday. The company has a market capitalization of $105.01 billion, a P/E ratio of 34.25, a PEG ratio of 3.06 and a beta of 1.08. The firm has a 50 day simple moving average of $121.34 and a 200-day simple moving average of $117.94. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 EPS. On average, equities research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PLD shares. Wells Fargo & Company lifted their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Bank of America reaffirmed a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Morgan Stanley increased their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

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.