Kentucky Trust Co Invests $156,000 in Prologis, Inc. (NYSE:PLD)

Kentucky Trust Co acquired a new position in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,476 shares of the real estate investment trust’s stock, valued at approximately $156,000.

Other institutional investors have also recently made changes to their positions in the company. AMF Tjanstepension AB grew its stake in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after buying an additional 1,365,811 shares during the last quarter. CWM LLC increased its holdings in shares of Prologis by 6.6% during the third quarter. CWM LLC now owns 20,255 shares of the real estate investment trust’s stock valued at $2,558,000 after acquiring an additional 1,257 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Prologis by 29.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,229 shares of the real estate investment trust’s stock worth $787,000 after purchasing an additional 1,424 shares in the last quarter. Procyon Advisors LLC grew its position in Prologis by 60.1% in the 3rd quarter. Procyon Advisors LLC now owns 4,717 shares of the real estate investment trust’s stock worth $595,000 after purchasing an additional 1,771 shares during the period. Finally, Fiduciary Alliance LLC purchased a new position in shares of Prologis in the 3rd quarter worth $208,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

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

Prologis Dividend Announcement

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

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

PLD has been the topic of a number of research reports. Mizuho dropped their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Scotiabank dropped their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently 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.