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

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 PLD opened at $118.38 on Friday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The company has a market capitalization of $109.64 billion, a P/E ratio of 29.59, a PEG ratio of 3.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The business’s 50 day simple moving average is $110.31 and its 200-day simple moving average is $118.33.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.24%. Prologis’s dividend payout ratio is 96.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Semmax Financial Advisors Inc. acquired a new stake in Prologis in the second quarter valued at approximately $27,000. Sunbelt Securities Inc. lifted its holdings in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the period. Dunhill Financial LLC boosted its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the last quarter. Hara Capital LLC purchased a new position in Prologis in the third quarter valued at approximately $48,000. Finally, Coastline Trust Co purchased a new position in shares of Prologis during the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of several research reports. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Truist Financial cut their price target on shares of Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price 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.

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.