Sarasin & Partners LLP Lowers Stake in Prologis, Inc. $PLD

Sarasin & Partners LLP lessened its holdings in Prologis, Inc. (NYSE:PLD) by 7.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 739,473 shares of the real estate investment trust’s stock after selling 59,993 shares during the quarter. Sarasin & Partners LLP’s holdings in Prologis were worth $84,477,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Prologis in the second quarter valued at approximately $1,288,936,000. Franklin Resources Inc. lifted its position in shares of Prologis by 216.0% during the 2nd quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust’s stock valued at $1,056,545,000 after buying an additional 6,870,479 shares in the last quarter. State Street Corp lifted its position in shares of Prologis by 1.9% during the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock valued at $6,164,325,000 after buying an additional 1,088,544 shares in the last quarter. Strs Ohio acquired a new stake in Prologis in the 1st quarter valued at $98,308,000. Finally, Balyasny Asset Management L.P. increased its holdings in Prologis by 11,585.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 882,398 shares of the real estate investment trust’s stock worth $92,758,000 after acquiring an additional 874,847 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. This represents a 7.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,621 shares of company stock worth $198,655 over the last quarter. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLD. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective on the stock in a report on Monday, October 20th. Weiss Ratings upgraded shares of Prologis from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 15th. Scotiabank raised their price target on shares of Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Finally, Evercore ISI increased their target price on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.88.

Prologis Stock Performance

PLD opened at $127.20 on Friday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $131.70. The firm has a market capitalization of $118.15 billion, a PE ratio of 37.09, a PEG ratio of 3.91 and a beta of 1.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $125.69 and its 200 day moving average price is $115.37.

Prologis (NYSE:PLD) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. The business had revenue of $2.21 billion for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. As a group, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. Prologis’s payout ratio is 117.78%.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.