Rep. Thomas H. Kean, Jr. Purchases Shares of Prologis, Inc. (NYSE:PLD)

Representative Thomas H. Kean, Jr. (R-New Jersey) recently bought shares of Prologis, Inc. NYSE: PLD. In a filing disclosed on January 22nd, the Representative disclosed that they had bought between $1,001 and $15,000 in Prologis stock on December 16th. The trade occurred in the Representative's "KEAN FAMILY PARTNERSHIP" account.

Representative Thomas H. Kean, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Canadian Pacific Kansas City NYSE: CP on 12/27/2024.
• Purchased $1,001 - $15,000 in shares of Pernod Ricard OTC: PRNDY on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 12/19/2024.
• Sold $1,001 - $15,000 in shares of Franklin Resources NYSE: BEN on 12/16/2024.
• Purchased $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 12/16/2024.
• Purchased $1,001 - $15,000 in shares of Analog Devices NASDAQ: ADI on 12/13/2024.

Prologis Trading Up 0.3 %

Shares of PLD traded up $0.36 during midday trading on Friday, hitting $118.90. 4,165,829 shares of the stock were exchanged, compared to its average volume of 4,862,321. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The stock has a fifty day simple moving average of $110.38 and a 200 day simple moving average of $118.34. The firm has a market cap of $110.12 billion, a P/E ratio of 29.73, a P/E/G ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Monday, December 16th. Prologis's payout ratio is 96.00%.

Institutional Investors Weigh In On Prologis

Several hedge funds and other institutional investors have recently bought and sold shares of PLD. Coronation Fund Managers Ltd. purchased a new stake in shares of Prologis in the 2nd quarter valued at about $878,000. Edgestream Partners L.P. acquired a new stake in shares of Prologis in the second quarter valued at approximately $241,000. ProShare Advisors LLC increased its holdings in shares of Prologis by 5.7% in the 2nd quarter. ProShare Advisors LLC now owns 177,022 shares of the real estate investment trust's stock valued at $19,881,000 after acquiring an additional 9,579 shares during the period. Frank Rimerman Advisors LLC boosted its stake in Prologis by 27,100.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 7,616 shares of the real estate investment trust's stock worth $855,000 after purchasing an additional 7,588 shares during the period. Finally, Gabelli Funds LLC increased its stake in Prologis by 3.6% in the second quarter. Gabelli Funds LLC now owns 3,205 shares of the real estate investment trust's stock valued at $360,000 after purchasing an additional 110 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Robert W. Baird upgraded Prologis from a "neutral" rating to an "outperform" rating and lowered their target price for the company from $124.00 to $123.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Barclays upped their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. Raymond James reissued an "outperform" rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Finally, Wolfe Research cut their price objective on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Prologis has an average rating of "Moderate Buy" and an average target price of $128.67.

About Representative Kean

Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey's 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey's 7th Congressional District. He declared candidacy for the 2024 election. Kean has served as state Senate minority leader. He was a member of the New Jersey General Assembly from 2001 to 2003. Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.

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.