Prologis (NYSE:PLD) Shares Acquired Rep. Thomas H. Kean, Jr.

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 Stock Up 2.8 %

PLD stock opened at $118.38 on Friday. The firm has a 50-day moving average price of $110.31 and a 200-day moving average price of $118.33. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $109.64 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09.

Prologis Dividend Announcement

The firm 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 3.24%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 96.00%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLD. JPMorgan Chase & Co. dropped 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. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Truist Financial lowered their target price on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 17th. Wolfe Research reduced their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Barclays lifted their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. State Street Corp lifted its position in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after buying an additional 767,609 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prologis by 534.7% during the 3rd 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 valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Finally, Swedbank AB raised its stake in shares of Prologis by 1.8% during the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after purchasing an additional 80,575 shares during the period. 93.50% of the stock is owned by institutional investors.

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.

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.