Kentucky Retirement Systems Sells 5,264 Shares of Prologis, Inc. (NYSE:PLD)

Kentucky Retirement Systems lessened its position in Prologis, Inc. (NYSE:PLD - Free Report) by 7.5% in the third quarter, according to its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. American Capital Advisory LLC acquired a new position in Prologis during the second quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the 2nd quarter worth about $27,000. Central Valley Advisors LLC bought a new position in Prologis in the 2nd quarter valued at about $29,000. Sunbelt Securities Inc. boosted its stake in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in Prologis during the 2nd quarter worth approximately $31,000. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PLD shares. Truist Financial lifted their target price on Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research report on Monday, August 5th. The Goldman Sachs Group reissued a "neutral" rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Morgan Stanley upped 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. Evercore ISI lifted their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company upped 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. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and an average price target of $131.12.

Prologis Stock Performance

NYSE PLD traded down $1.33 during trading on Friday, hitting $113.42. 3,889,491 shares of the company's stock traded hands, compared to its average volume of 3,654,745. The stock has a market capitalization of $105.05 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 3.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The business has a 50 day moving average of $121.34 and a 200-day moving average of $117.94. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Monday, September 16th. Prologis's payout ratio is presently 116.01%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction 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. The trade was a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company's stock.

Prologis Company 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.