KBC Group NV trimmed its stake in Prologis (NYSE:PLD) by 0.9% in the first quarter, HoldingsChannel reports. The firm owned 694,117 shares of the real estate investment trust’s stock after selling 6,466 shares during the quarter. KBC Group NV’s holdings in Prologis were worth $43,722,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtue Capital Management LLC acquired a new position in Prologis in the fourth quarter worth approximately $143,000. Signaturefd LLC acquired a new position in Prologis in the first quarter worth approximately $142,000. Parallel Advisors LLC increased its holdings in Prologis by 66.3% in the fourth quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 1,000 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Prologis by 75.5% in 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 buying an additional 1,152 shares during the last quarter. Finally, Premia Global Advisors LLC acquired a new position in Prologis in the fourth quarter worth approximately $192,000. 94.16% of the stock is owned by institutional investors and hedge funds.
In other Prologis news, insider Michael S. Curless sold 14,465 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 102 shares in the company, valued at $6,373.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J Michael Losh sold 3,618 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $65.38, for a total value of $236,544.84. Following the transaction, the director now owns 24,957 shares in the company, valued at approximately $1,631,688.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,701 shares of company stock worth $1,377,116. Corporate insiders own 1.32% of the company’s stock.
Shares of Prologis opened at $63.24 on Monday, MarketBeat.com reports. Prologis has a 12 month low of $54.60 and a 12 month high of $67.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $33.72 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 4.24 and a beta of 0.82.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, April 17th. The real estate investment trust reported $0.68 EPS for the quarter, beating the consensus estimate of $0.35 by $0.33. Prologis had a return on equity of 9.86% and a net margin of 67.65%. The company had revenue of $555.90 million for the quarter, compared to the consensus estimate of $552.42 million. During the same quarter last year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. sell-side analysts anticipate that Prologis will post 3.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Thursday, June 14th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, June 13th. This represents a $1.92 annualized dividend and a yield of 3.04%. Prologis’s dividend payout ratio (DPR) is presently 68.33%.
A number of equities analysts recently commented on PLD shares. 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. Cantor Fitzgerald set a $69.00 price objective on Prologis and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Jefferies Group restated a “neutral” rating on shares of Prologis in a report on Wednesday, January 24th. Robert W. Baird increased their price objective on Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, Barclays increased their price objective on Prologis from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $69.00.
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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