Rep. Jefferson Shreve Buys Prologis, Inc. (NYSE:PLD) Shares

Representative Jefferson Shreve (R-Indiana) recently bought shares of Prologis, Inc. (NYSE:PLD). In a filing disclosed on March 09th, the Representative disclosed that they had bought between $15,001 and $50,000 in Prologis stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

Prologis Price Performance

Shares of NYSE:PLD opened at $117.97 on Tuesday. The company’s fifty day moving average price is $116.22 and its 200 day moving average price is $117.87. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm has a market capitalization of $109.34 billion, a P/E ratio of 29.49, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.42%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PLD has been the topic of several research analyst reports. UBS Group lifted their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Barclays lifted their price target 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. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada raised their price objective 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Institutional Trading of Prologis

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Prologis during the fourth quarter worth about $951,263,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Northern Trust Corp boosted its holdings in Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Capital Research Global Investors boosted its holdings in Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock worth $1,304,922,000 after buying an additional 2,500,761 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Prologis during the fourth quarter worth about $254,876,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

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Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.