Rep. Thomas H. Kean, Jr. Buys Prologis, Inc. (NYSE:PLD) Stock

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 %

Shares of Prologis stock opened at $118.38 on Friday. The company’s fifty day simple moving average is $110.31 and its two-hundred day simple moving average is $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 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $109.64 billion, a P/E ratio of 29.59, a PEG ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

Institutional Investors Weigh In On Prologis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Austin Private Wealth LLC boosted its position in shares of Prologis by 27.7% during the fourth quarter. Austin Private Wealth LLC now owns 2,813 shares of the real estate investment trust’s stock worth $297,000 after acquiring an additional 611 shares during the last quarter. Cibc World Market Inc. grew its position in Prologis by 1.8% in the fourth quarter. Cibc World Market Inc. now owns 307,328 shares of the real estate investment trust’s stock worth $32,485,000 after acquiring an additional 5,516 shares in the last quarter. OLD Second National Bank of Aurora increased its position in shares of Prologis by 7.1% during the 4th quarter. OLD Second National Bank of Aurora now owns 10,258 shares of the real estate investment trust’s stock valued at $1,084,000 after purchasing an additional 677 shares during the last quarter. BDF Gestion increased its position in Prologis by 6.2% during the fourth quarter. BDF Gestion now owns 51,130 shares of the real estate investment trust’s stock valued at $5,404,000 after acquiring an additional 2,963 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in Prologis during the 4th quarter valued at about $1,057,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PLD. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Scotiabank reduced their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Raymond James reaffirmed an “outperform” rating and issued a $125.00 price target (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. Finally, Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.

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.