Xact Kapitalforvaltning AB grew its stake in shares of Prologis Inc (NYSE:PLD) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 184,615 shares of the real estate investment trust’s stock after acquiring an additional 11,021 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Prologis were worth $11,910,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtue Capital Management LLC purchased a new position in shares of Prologis during the 4th quarter valued at approximately $143,000. Parallel Advisors LLC lifted its stake in Prologis by 66.3% during the fourth quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 1,000 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Prologis by 75.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 1,152 shares during the last quarter. Premia Global Advisors LLC bought a new position in Prologis during the fourth quarter worth $192,000. Finally, Catalyst Capital Advisors LLC bought a new position in Prologis during the fourth quarter worth $200,000. 95.38% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on the company. Barclays raised their price objective on Prologis from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. KeyCorp reaffirmed a “buy” rating and issued a $72.00 target price on shares of Prologis in a research report on Thursday, December 21st. Cantor Fitzgerald set a $69.00 target price on Prologis and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Jefferies Group reaffirmed a “neutral” rating on shares of Prologis in a research report on Wednesday, January 24th. Finally, Robert W. Baird increased their target price on Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $67.56.
Shares of Prologis stock traded up $0.17 on Thursday, hitting $62.80. The stock had a trading volume of 152,807 shares, compared to its average volume of 2,639,612. The firm has a market capitalization of $33,891.57, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 4.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.68 and a quick ratio of 0.68. Prologis Inc has a 52 week low of $49.44 and a 52 week high of $67.53.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $550.65 million for the quarter, compared to analyst estimates of $533.54 million. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. research analysts expect that Prologis Inc will post 2.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.06%. This is a positive change from Prologis’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, March 14th. Prologis’s dividend payout ratio (DPR) is 62.75%.
In other news, Director William D. Zollars sold 4,020 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total transaction of $243,129.60. Following the transaction, the director now directly owns 20,225 shares of the company’s stock, valued at $1,223,208. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward S. Nekritz sold 15,752 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $64.51, for a total value of $1,016,161.52. Following the transaction, the insider now directly owns 146,414 shares in the company, valued at $9,445,167.14. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by company insiders.
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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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