Advisors Asset Management Inc. increased its position in Prologis Inc (NYSE:PLD) by 12.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,496 shares of the real estate investment trust’s stock after acquiring an additional 7,206 shares during the period. Advisors Asset Management Inc.’s holdings in Prologis were worth $4,283,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wesbanco Bank Inc. boosted its holdings in Prologis by 76.9% in the 2nd quarter. Wesbanco Bank Inc. now owns 29,900 shares of the real estate investment trust’s stock worth $1,753,000 after buying an additional 13,000 shares during the period. Swiss National Bank lifted its stake in Prologis by 3.2% in the 2nd quarter. Swiss National Bank now owns 1,933,060 shares of the real estate investment trust’s stock worth $113,355,000 after purchasing an additional 60,000 shares in the last quarter. Cipher Capital LP lifted its stake in Prologis by 98.1% in the 2nd quarter. Cipher Capital LP now owns 44,673 shares of the real estate investment trust’s stock worth $2,620,000 after purchasing an additional 22,120 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Prologis by 3,877.2% in the 2nd quarter. Lazard Asset Management LLC now owns 2,533,654 shares of the real estate investment trust’s stock worth $148,573,000 after purchasing an additional 2,469,949 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Prologis by 1.3% in the 2nd quarter. BlackRock Inc. now owns 51,529,145 shares of the real estate investment trust’s stock worth $3,021,668,000 after purchasing an additional 673,429 shares in the last quarter. Institutional investors own 95.57% of the company’s stock.
In related news, CEO Eugene F. Reilly sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $66.55, for a total transaction of $1,197,900.00. Following the sale, the chief executive officer now directly owns 63,365 shares of the company’s stock, valued at approximately $4,216,940.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eugene F. Reilly sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $66.61, for a total transaction of $999,150.00. Following the sale, the chief executive officer now directly owns 63,365 shares in the company, valued at $4,220,742.65. The disclosure for this sale can be found here. 1.31% of the stock is owned by insiders.
Shares of Prologis Inc (NYSE:PLD) traded up $1.10 during trading on Thursday, hitting $65.82. 1,808,148 shares of the company traded hands, compared to its average volume of 2,398,917. Prologis Inc has a 12-month low of $48.33 and a 12-month high of $67.53. The stock has a market capitalization of $34,530.00, a PE ratio of 23.26, a PEG ratio of 4.24 and a beta of 0.91. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.53.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. The business had revenue of $531.18 million for the quarter, compared to analyst estimates of $573.68 million. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 earnings per share. analysts predict that Prologis Inc will post 2.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.67%. Prologis’s dividend payout ratio (DPR) is presently 52.85%.
Several analysts have recently issued reports on the stock. Evercore ISI upgraded shares of Prologis from an “in-line” rating to an “outperform” rating in a research report on Monday. Citigroup increased their price objective on shares of Prologis from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. KeyCorp increased their price objective on shares of Prologis from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. BMO Capital Markets initiated coverage on shares of Prologis in a research note on Monday, September 11th. They issued an “outperform” rating and a $69.00 target price on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $65.00 target price on shares of Prologis in a research note on Thursday, September 21st. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Prologis has an average rating of “Buy” and an average target price of $66.31.
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Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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