Andra AP fonden bought a new position in Prologis Inc (NYSE:PLD) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 101,900 shares of the real estate investment trust’s stock, valued at approximately $7,332,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc increased its position in shares of Prologis by 17.4% during the third quarter. Vanguard Group Inc now owns 81,760,597 shares of the real estate investment trust’s stock valued at $5,542,552,000 after purchasing an additional 12,095,509 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Prologis by 134.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 300 shares during the period. Creative Planning increased its holdings in Prologis by 33.4% in the fourth quarter. Creative Planning now owns 9,829 shares of the real estate investment trust’s stock valued at $577,000 after purchasing an additional 2,461 shares during the last quarter. TD Asset Management Inc. increased its holdings in Prologis by 1.1% in the fourth quarter. TD Asset Management Inc. now owns 184,770 shares of the real estate investment trust’s stock valued at $10,850,000 after purchasing an additional 2,090 shares during the last quarter. Finally, ETF Managers Group LLC increased its holdings in shares of Prologis by 18.8% in the fourth quarter. ETF Managers Group LLC now owns 2,125 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 337 shares in the last quarter. 95.46% of the stock is currently owned by institutional investors.
Shares of PLD stock opened at $78.83 on Wednesday. Prologis Inc has a one year low of $55.21 and a one year high of $78.89. The stock has a market capitalization of $49.32 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 4.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.36 and a current ratio of 0.36.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The business had revenue of $696.80 million during the quarter, compared to analysts’ expectations of $687.21 million. Prologis had a net margin of 56.56% and a return on equity of 6.83%. The business’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the company posted $0.80 earnings per share. On average, equities analysts forecast that Prologis Inc will post 3.22 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, June 12th. Prologis’s dividend payout ratio is currently 69.97%.
In other news, insider Edward S. Nekritz sold 16,059 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $71.86, for a total transaction of $1,153,999.74. Following the completion of the sale, the insider now owns 51,792 shares in the company, valued at approximately $3,721,773.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward S. Nekritz sold 30,671 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the sale, the insider now owns 21,121 shares of the company’s stock, valued at approximately $1,584,286.21. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
A number of analysts have recently issued reports on PLD shares. Robert W. Baird cut Prologis from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $73.00 to $71.00 in a research report on Friday, March 1st. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. KeyCorp set a $79.00 price objective on Prologis and gave the company a “buy” rating in a report on Tuesday, April 23rd. Goldman Sachs Group initiated coverage on Prologis in a report on Wednesday, May 15th. They set a “conviction-buy” rating on the stock. Finally, Citigroup boosted their price objective on Prologis from $73.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $74.46.
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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, 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 768 million square feet (71 million square meters) in 19 countries.
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