Carroll Financial Associates Inc. lessened its stake in shares of Prologis Inc (NYSE:PLD) by 11.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,786 shares of the real estate investment trust’s stock after selling 227 shares during the period. Carroll Financial Associates Inc.’s holdings in Prologis were worth $152,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in PLD. Cornerstone Advisors Inc. lifted its holdings in shares of Prologis by 8.8% in the second quarter. Cornerstone Advisors Inc. now owns 1,601 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 130 shares in the last quarter. Exane Derivatives lifted its holdings in shares of Prologis by 18.8% in the second quarter. Exane Derivatives now owns 968 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 153 shares in the last quarter. Lincoln National Corp lifted its holdings in shares of Prologis by 4.0% in the second quarter. Lincoln National Corp now owns 4,175 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 159 shares in the last quarter. Peapack Gladstone Financial Corp lifted its holdings in shares of Prologis by 5.3% in the second quarter. Peapack Gladstone Financial Corp now owns 3,233 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 164 shares in the last quarter. Finally, Altium Wealth Management LLC lifted its holdings in shares of Prologis by 5.8% in the second quarter. Altium Wealth Management LLC now owns 3,440 shares of the real estate investment trust’s stock valued at $276,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.
In other news, CFO Thomas S. Olinger sold 13,051 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total value of $1,073,444.75. Following the transaction, the chief financial officer now directly owns 20,667 shares of the company’s stock, valued at $1,699,860.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eugene F. Reilly sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the completion of the transaction, the insider now directly owns 10,685 shares in the company, valued at $873,178.20. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
NYSE PLD opened at $85.84 on Friday. Prologis Inc has a 1-year low of $55.21 and a 1-year high of $86.94. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $54.18 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 4.59 and a beta of 1.01. The firm’s fifty day simple moving average is $84.50 and its 200-day simple moving average is $79.49.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.16). Prologis had a return on equity of 6.55% and a net margin of 55.04%. The company had revenue of $700.69 million during the quarter, compared to analyst estimates of $704.19 million. During the same period last year, the company posted $0.71 earnings per share. The company’s revenue was up 28.6% compared to the same quarter last year. As a group, analysts predict that Prologis Inc will post 3.27 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, September 19th. Prologis’s dividend payout ratio (DPR) is presently 69.97%.
A number of analysts have recently issued reports on PLD shares. ValuEngine lowered Prologis from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank increased their target price on Prologis from $74.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, July 18th. BMO Capital Markets restated a “buy” rating and issued a $85.00 target price on shares of Prologis in a report on Wednesday, July 17th. SunTrust Banks increased their target price on Prologis from $81.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, Evercore ISI set a $80.00 target price on Prologis and gave the company a “hold” rating in a report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $79.68.
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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