Chevy Chase Trust Holdings Inc. increased its position in shares of Prologis Inc (NYSE:PLD) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 463,874 shares of the real estate investment trust’s stock after buying an additional 7,010 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.09% of Prologis worth $29,437,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning raised its stake in Prologis by 3.4% during the 2nd quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 69 shares during the last quarter. Evercore Wealth Management LLC raised its stake in Prologis by 18.2% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 350 shares during the last quarter. IFP Advisors Inc raised its stake in Prologis by 40.7% during the 2nd quarter. IFP Advisors Inc now owns 3,164 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 915 shares during the last quarter. ETF Managers Group LLC acquired a new position in Prologis during the 2nd quarter valued at $193,000. Finally, Lincoln National Corp acquired a new position in Prologis during the 2nd quarter valued at $205,000. 95.57% of the stock is owned by institutional investors and hedge funds.
PLD has been the subject of several research analyst reports. BidaskClub upgraded shares of Prologis from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Jefferies Group reiterated a “hold” rating and set a $66.00 target price (up from $59.00) on shares of Prologis in a research note on Thursday, August 24th. KeyCorp reiterated a “buy” rating and set a $65.00 target price on shares of Prologis in a research note on Sunday, August 27th. SunTrust Banks upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Tuesday, September 5th. Finally, BMO Capital Markets initiated coverage on shares of Prologis in a research note on Monday, September 11th. They set an “outperform” rating and a $69.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $66.31.
Shares of Prologis Inc (NYSE:PLD) traded up $0.34 during mid-day trading on Friday, hitting $66.16. 1,507,112 shares of the stock were exchanged, compared to its average volume of 1,635,857. Prologis Inc has a 52 week low of $48.33 and a 52 week high of $67.53. The firm has a market cap of $35,202.55, a PE ratio of 23.88, a price-to-earnings-growth ratio of 4.36 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 quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The company had revenue of $531.18 million during the quarter, compared to analysts’ expectations of $573.68 million. During the same quarter in the prior year, the company posted $0.14 EPS. The business’s revenue was down 5.2% on a year-over-year basis. research analysts forecast that Prologis Inc will post 2.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, December 15th. Prologis’s dividend payout ratio is 52.85%.
In other news, CEO Eugene F. Reilly sold 15,000 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $66.61, for a total value of $999,150.00. Following the completion of the transaction, the chief executive officer now owns 63,365 shares in the company, valued at approximately $4,220,742.65. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eugene F. Reilly sold 18,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 63,365 shares of the company’s stock, valued at approximately $4,216,940.75. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.
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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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