TIAA CREF Investment Management LLC lowered its stake in shares of Prologis (NYSE:PLD) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,547,943 shares of the real estate investment trust’s stock after selling 94,034 shares during the period. TIAA CREF Investment Management LLC owned 0.48% of Prologis worth $164,368,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in PLD. Virtue Capital Management LLC bought a new stake in shares of Prologis during the 4th quarter worth approximately $143,000. Parallel Advisors LLC raised its stake in shares of 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 purchasing an additional 1,000 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of 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 purchasing an additional 1,152 shares in the last quarter. Premia Global Advisors LLC bought a new stake in shares of Prologis during the 4th quarter worth approximately $192,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Prologis during the 4th quarter worth approximately $200,000. Institutional investors own 95.39% of the company’s stock.
A number of equities research analysts have recently issued reports on PLD shares. Robert W. Baird upped their price objective on Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Barclays upped 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. JPMorgan Chase cut Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 price objective on the stock. in a research note on Friday, December 15th. Citigroup upgraded Prologis from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Friday. Finally, ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $67.94.
In other Prologis news, Director William D. Zollars sold 4,020 shares of the 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 owns 20,225 shares in the company, valued at approximately $1,223,208. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael S. Curless sold 14,465 shares of the stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $62.49, for a total value of $903,917.85. Following the transaction, the insider now owns 102 shares in the company, valued at approximately $6,373.98. The disclosure for this sale can be found here. 1.31% of the stock is owned by company insiders.
PLD stock traded down $0.52 during trading hours on Friday, hitting $61.24. 1,921,512 shares of the stock were exchanged, compared to its average volume of 2,071,336. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $32,921.41, a price-to-earnings ratio of 21.79, a PEG ratio of 4.64 and a beta of 0.83. Prologis has a 12 month low of $52.98 and a 12 month high of $67.53.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $550.65 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.63 EPS. research analysts expect that Prologis will post 2.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were given a dividend of $0.48 per share. This is a boost from Prologis’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, March 14th. This represents a $1.92 annualized dividend and a yield of 3.14%. Prologis’s dividend payout ratio (DPR) is presently 68.33%.
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Prologis Company Profile
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.
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