Kentucky Retirement Systems Has $5.89 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Posted by on Mar 15th, 2023

Kentucky Retirement Systems increased its position in Prologis, Inc. (NYSE:PLD – Get Rating) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,955 shares of the real estate investment trust’s stock after buying an additional 3,013 shares during the period. Kentucky Retirement Systems’ holdings in Prologis were worth $5,888,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. HHM Wealth Advisors LLC boosted its stake in Prologis by 115.3% during the 3rd quarter. HHM Wealth Advisors LLC now owns 351 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 188 shares during the last quarter. MV Capital Management Inc. raised its holdings in shares of Prologis by 98.9% in the 3rd quarter. MV Capital Management Inc. now owns 360 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 179 shares during the period. TCI Wealth Advisors Inc. raised its holdings in shares of Prologis by 34.3% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 399 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 102 shares during the period. Bell Investment Advisors Inc raised its holdings in shares of Prologis by 28.2% in the 3rd quarter. Bell Investment Advisors Inc now owns 427 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 94 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in Prologis during the 3rd quarter valued at $54,000. 75.84% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE PLD opened at $119.83 on Wednesday. Prologis, Inc. has a fifty-two week low of $98.03 and a fifty-two week high of $174.54. The company has a 50 day simple moving average of $124.31 and a two-hundred day simple moving average of $116.70. The company has a market capitalization of $110.65 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 2.99 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.16 and a current ratio of 0.16.

Prologis (NYSE:PLD – Get Rating) last posted its quarterly earnings results on Wednesday, January 18th. The real estate investment trust reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.03. Prologis had a net margin of 56.33% and a return on equity of 7.71%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The business’s revenue for the quarter was up 37.2% on a year-over-year basis. Analysts expect that Prologis, Inc. will post 5.52 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a dividend of $0.87 per share. This is a boost from Prologis’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.90%. Prologis’s dividend payout ratio is presently 80.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI boosted their target price on shares of Prologis to $121.00 in a report on Tuesday, November 15th. StockNews.com lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Friday, March 10th. Raymond James boosted their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 1st. Citigroup boosted their price target on shares of Prologis to $140.00 in a research report on Wednesday, December 14th. Finally, Morgan Stanley boosted their price target on shares of Prologis from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

About Prologis

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Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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