Kentucky Retirement Systems Lowers Position in Prologis, Inc. (NYSE:PLD)

Kentucky Retirement Systems cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,768 shares of the real estate investment trust’s stock after selling 401 shares during the period. Kentucky Retirement Systems’ holdings in Prologis were worth $7,836,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PLD. Optimum Investment Advisors purchased a new position in Prologis during the first quarter worth about $26,000. American Capital Advisory LLC purchased a new position in shares of Prologis in the 2nd quarter worth approximately $26,000. True Wealth Design LLC purchased a new position in shares of Prologis in the 4th quarter worth approximately $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis in the second quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Prologis during the second quarter valued at approximately $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Trading Down 1.4 %

Shares of PLD opened at $127.05 on Thursday. The business’s 50-day moving average price is $125.21 and its 200-day moving average price is $118.73. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market cap of $117.63 billion, a PE ratio of 37.15, a P/E/G ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 earnings per share. On average, equities analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.02%. The ex-dividend date is Monday, September 16th. Prologis’s payout ratio is 112.28%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Argus boosted their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Mizuho reduced their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Morgan Stanley lifted 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. Finally, Barclays increased their target price on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $133.35.

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.