Mackay Shields LLC acquired a new position in Prologis (NYSE:PLD) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 166,390 shares of the real estate investment trust’s stock, valued at approximately $10,481,000.
Other institutional investors have also modified their holdings of the company. Virtue Capital Management LLC acquired a new stake in Prologis in the 4th quarter worth about $143,000. Parallel Advisors LLC raised its stake in Prologis by 66.3% in 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 Prologis by 75.5% in 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 position in Prologis in the 4th quarter valued at about $192,000. Finally, Catalyst Capital Advisors LLC bought a new position in Prologis in the 4th quarter valued at about $200,000. Institutional investors and hedge funds own 95.60% of the company’s stock.
Several equities analysts have commented on PLD shares. Barclays reissued an “overweight” rating and issued a $72.00 target price on shares of Prologis in a report on Friday, February 16th. Citigroup raised shares of Prologis from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Friday, April 6th. BMO Capital Markets set a $68.00 target price on shares of Prologis and gave the company a “buy” rating in a report on Tuesday, January 23rd. Jefferies Group reissued a “neutral” rating on shares of Prologis in a report on Wednesday, January 24th. Finally, Cantor Fitzgerald set a $69.00 target price on shares of Prologis and gave the company a “buy” rating in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Prologis has a consensus rating of “Buy” and a consensus target price of $68.88.
Shares of Prologis stock opened at $65.22 on Thursday. The stock has a market cap of $34.76 billion, a P/E ratio of 21.88, a P/E/G ratio of 4.39 and a beta of 0.82. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.51.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, April 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.33. The company had revenue of $555.90 million for the quarter, compared to analyst estimates of $552.42 million. Prologis had a net margin of 67.65% and a return on equity of 9.86%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. research analysts anticipate that Prologis will post 3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, June 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, June 13th. Prologis’s dividend payout ratio (DPR) is presently 68.33%.
In related news, insider Michael S. Curless sold 14,465 shares of Prologis stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $62.49, for a total transaction of $903,917.85. Following the sale, the insider now directly owns 102 shares of the company’s stock, valued at approximately $6,373.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Michael Losh sold 3,618 shares of Prologis stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $65.38, for a total transaction of $236,544.84. Following the sale, the director now directly owns 24,957 shares in the company, valued at $1,631,688.66. The disclosure for this sale can be found here. Insiders have sold a total of 21,701 shares of company stock worth $1,377,116 over the last ninety days. 1.32% of the stock is currently owned by insiders.
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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