American National Bank grew its stake in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 113.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 397 shares of the real estate investment trust’s stock after purchasing an additional 211 shares during the period. American National Bank’s holdings in Prologis were worth $45,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of PLD. Vanguard Group Inc. lifted its position in Prologis by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 97,683,583 shares of the real estate investment trust’s stock valued at $9,924,652,000 after acquiring an additional 432,945 shares during the period. BlackRock Inc. grew its stake in shares of Prologis by 1.0% in the third quarter. BlackRock Inc. now owns 74,679,148 shares of the real estate investment trust’s stock worth $7,587,402,000 after acquiring an additional 710,141 shares during the last quarter. FMR LLC increased its holdings in shares of Prologis by 6.0% during the second quarter. FMR LLC now owns 24,083,514 shares of the real estate investment trust’s stock valued at $2,833,425,000 after acquiring an additional 1,361,120 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Prologis by 27.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 13,071,004 shares of the real estate investment trust’s stock worth $1,328,016,000 after purchasing an additional 2,823,799 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of Prologis by 10.5% in the 3rd quarter. Nuveen Asset Management LLC now owns 10,522,211 shares of the real estate investment trust’s stock worth $1,069,056,000 after purchasing an additional 999,809 shares during the last quarter. 75.84% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on PLD shares. JPMorgan Chase & Co. cut shares of Prologis from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $124.00 to $130.00 in a report on Friday, December 16th. Morgan Stanley upped their price target on Prologis from $121.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, January 23rd. Wells Fargo & Company lifted their price objective on Prologis to $141.00 in a report on Wednesday, December 14th. Raymond James upped their target price on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 1st. Finally, Barclays reduced their price target on shares of Prologis from $162.00 to $160.00 and set an “overweight” rating for the company in a research note on Tuesday, January 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $145.00.
Prologis Trading Down 3.4 %
Prologis (NYSE:PLD – Get Rating) last announced its quarterly earnings data on Wednesday, January 18th. The real estate investment trust reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. Prologis had a net margin of 56.33% and a return on equity of 7.71%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 37.2% compared to the same quarter last year. As a group, research analysts predict that Prologis, Inc. will post 5.52 earnings per share for the current year.
Prologis Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.00%. This is an increase from Prologis’s previous quarterly dividend of $0.79. The ex-dividend date is Thursday, March 16th. Prologis’s payout ratio is presently 72.64%.
Prologis Company Profile
Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.
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