Kentucky Retirement Systems Insurance Trust Fund Sells 9,753 Shares of Prologis, Inc. (NYSE:PLD)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in Prologis, Inc. (NYSE:PLD) by 35.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,661 shares of the real estate investment trust’s stock after selling 9,753 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Prologis were worth $1,867,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PLD. Dunhill Financial LLC lifted its holdings in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Hara Capital LLC purchased a new position in Prologis during the 3rd quarter valued at about $48,000. Coastline Trust Co purchased a new position in Prologis during the 3rd quarter valued at about $52,000. Asset Planning Inc purchased a new position in Prologis during the 4th quarter valued at about $53,000. Finally, Fortitude Family Office LLC increased its position in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wolfe Research cut their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Performance

PLD opened at $121.21 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The company has a market cap of $112.26 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The firm’s fifty day simple moving average is $111.98 and its two-hundred day simple moving average is $117.97.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Insider Buying and Selling at Prologis

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

About Prologis

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.