KAMES CAPITAL plc Acquires Shares of 2,960 Prologis Inc (PLD)

KAMES CAPITAL plc acquired a new stake in Prologis Inc (NYSE:PLD) in the 3rd quarter, HoldingsChannel reports. The fund acquired 2,960 shares of the real estate investment trust’s stock, valued at approximately $201,000.

A number of other large investors also recently modified their holdings of PLD. BB&T Securities LLC lifted its stake in Prologis by 24.9% in the 1st quarter. BB&T Securities LLC now owns 4,806 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 957 shares during the last quarter. CAMG Solamere Management LLC lifted its stake in Prologis by 1.6% in the 1st quarter. CAMG Solamere Management LLC now owns 60,446 shares of the real estate investment trust’s stock valued at $3,807,000 after purchasing an additional 952 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Prologis by 3.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 809,678 shares of the real estate investment trust’s stock valued at $51,003,000 after purchasing an additional 23,341 shares during the last quarter. LPL Financial LLC lifted its stake in Prologis by 14.0% in the 1st quarter. LPL Financial LLC now owns 20,756 shares of the real estate investment trust’s stock valued at $1,307,000 after purchasing an additional 2,551 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in Prologis by 26.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,450,365 shares of the real estate investment trust’s stock valued at $91,360,000 after purchasing an additional 299,580 shares during the last quarter. 80.59% of the stock is owned by institutional investors and hedge funds.

In other news, insider Edward S. Nekritz sold 18,099 shares of the stock in a transaction on Friday, September 21st. The shares were sold at an average price of $67.66, for a total transaction of $1,224,578.34. Following the completion of the sale, the insider now directly owns 106,102 shares in the company, valued at $7,178,861.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Irving F. Lyons III sold 4,808 shares of the stock in a transaction on Friday, September 28th. The stock was sold at an average price of $67.45, for a total transaction of $324,299.60. Following the sale, the director now owns 9,863 shares of the company’s stock, valued at $665,259.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,690 shares of company stock valued at $3,501,582. 1.32% of the stock is currently owned by corporate insiders.

PLD stock opened at $62.54 on Friday. The firm has a market cap of $42.67 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 4.43 and a beta of 0.72. Prologis Inc has a 52-week low of $58.28 and a 52-week high of $68.20. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. Prologis had a net margin of 74.17% and a return on equity of 10.11%. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $557.43 million. During the same quarter last year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. On average, research analysts predict that Prologis Inc will post 3.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Monday, September 17th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, September 14th. Prologis’s dividend payout ratio (DPR) is presently 68.33%.

Several equities analysts have recently issued reports on the stock. SunTrust Banks set a $70.00 price target on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, August 7th. ValuEngine downgraded shares of Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Zacks Investment Research raised shares of Prologis from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, September 12th. JPMorgan Chase & Co. set a $72.00 price target on shares of Prologis and gave the company a “buy” rating in a research note on Thursday, August 23rd. Finally, Barclays raised their price target on shares of Prologis from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, August 2nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $71.53.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2018, 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 685 million square feet (64 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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