Kennebec Savings Bank Takes Position in Prologis, Inc. (NYSE:PLD)

Kennebec Savings Bank purchased a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,012 shares of the real estate investment trust's stock, valued at approximately $633,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust's stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Prologis by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust's stock worth $1,483,594,000 after buying an additional 317,815 shares during the period. Principal Financial Group Inc. grew its position in shares of Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust's stock worth $1,377,588,000 after buying an additional 167,131 shares during the period. Centersquare Investment Management LLC lifted its position in Prologis by 5.7% during the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust's stock valued at $890,728,000 after acquiring an additional 367,565 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Prologis by 16.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust's stock valued at $767,398,000 after acquiring an additional 958,914 shares during the period. 93.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PLD. Evercore ISI increased their target price on Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Barclays cut their price target on shares of Prologis from $142.00 to $131.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research note on Wednesday, August 28th. Finally, Royal Bank of Canada cut Prologis from an "outperform" rating to a "sector perform" rating and upped their price objective for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $131.12.

Prologis Stock Down 0.4 %

Shares of PLD stock traded down $0.52 on Monday, hitting $115.31. The stock had a trading volume of 1,366,748 shares, compared to its average volume of 3,637,397. The stock's 50 day moving average is $122.69 and its 200-day moving average is $117.77. The firm has a market capitalization of $106.80 billion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD - Get Free Report) 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 the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business earned $1.30 earnings per share. Prologis's revenue was up 6.9% on a year-over-year basis. As a group, research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid 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 yield of 3.33%. Prologis's payout ratio is currently 116.01%.

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.