KCM Investment Advisors LLC Has $2.30 Million Position in Prologis, Inc. (NYSE:PLD)

KCM Investment Advisors LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,789 shares of the real estate investment trust’s stock after selling 2,053 shares during the quarter. KCM Investment Advisors LLC’s holdings in Prologis were worth $2,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PLD. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis during the fourth quarter worth $26,000. Dunhill Financial LLC boosted its holdings in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in Prologis during the 4th quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in Prologis in the 4th quarter worth about $30,000. Finally, Promus Capital LLC bought a new position in Prologis in the fourth quarter valued at about $34,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Truist Financial upped their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Mizuho decreased their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Wolfe Research reduced their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

NYSE:PLD opened at $98.10 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a twelve month low of $95.34 and a twelve month high of $132.57. The company has a fifty day moving average of $116.86 and a 200-day moving average of $115.54. The firm has a market capitalization of $90.94 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 4.12%. The ex-dividend date was Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

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.