Driehaus Capital Management LLC acquired a new stake in Prologis (NYSE:PLD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,550 shares of the real estate investment trust’s stock, valued at approximately $423,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in Prologis by 66.3% during the 4th quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 1,000 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in Prologis by 75.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 1,152 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Prologis during the 4th quarter worth approximately $200,000. BB&T Securities LLC acquired a new position in Prologis during the 3rd quarter worth approximately $213,000. Finally, ClariVest Asset Management LLC lifted its position in Prologis by 30,750.0% during the 3rd quarter. ClariVest Asset Management LLC now owns 3,702 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 3,690 shares in the last quarter. 95.39% of the stock is currently owned by institutional investors and hedge funds.
PLD traded down $0.52 during trading on Friday, reaching $61.24. 1,921,512 shares of the company were exchanged, compared to its average volume of 2,071,336. The company has a market cap of $32,921.41, a P/E ratio of 21.79, a PEG ratio of 4.64 and a beta of 0.83. 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 has a 52 week low of $52.98 and a 52 week high of $67.53.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. The firm had revenue of $550.65 million during the quarter, compared to the consensus estimate of $533.54 million. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. research analysts anticipate that Prologis will post 2.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were paid a dividend of $0.48 per share. This is an increase from Prologis’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Wednesday, March 14th. Prologis’s dividend payout ratio is presently 68.33%.
In other Prologis news, insider Michael S. Curless sold 14,465 shares of the business’s stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $62.49, for a total transaction of $903,917.85. Following the completion of the transaction, the insider now owns 102 shares in the company, valued at approximately $6,373.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Zollars sold 4,020 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total value of $243,129.60. Following the transaction, the director now owns 20,225 shares of the company’s stock, valued at approximately $1,223,208. The disclosure for this sale can be found here. 1.31% of the stock is owned by corporate insiders.
Several equities analysts recently commented on PLD shares. Zacks Investment Research lowered Prologis from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Barclays reissued an “overweight” rating and set a $72.00 price target on shares of Prologis in a research report on Friday, February 16th. BMO Capital Markets set a $68.00 price objective on Prologis and gave the stock a “buy” rating in a report on Tuesday, January 23rd. KeyCorp restated a “buy” rating and set a $72.00 price objective on shares of Prologis in a report on Thursday, December 21st. Finally, JPMorgan Chase downgraded Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 price objective on the stock. in a report on Friday, December 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $67.94.
COPYRIGHT VIOLATION WARNING: “Driehaus Capital Management LLC Invests $423,000 in Prologis (PLD)” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2018/04/07/driehaus-capital-management-llc-purchases-shares-of-6550-prologis-inc-pld.html.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2017, 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 684 million square feet (64 million square meters) in 19 countries.
Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.