DekaBank Deutsche Girozentrale lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 622,173 shares of the real estate investment trust’s stock after selling 45,618 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Prologis were worth $66,172,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. JJJ Advisors Inc. lifted its holdings in Prologis by 512.2% in the 4th quarter. JJJ Advisors Inc. now owns 251 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Lountzis Asset Management LLC acquired a new stake in Prologis during the 4th quarter worth approximately $27,000. Vantage Consulting Group Inc acquired a new stake in Prologis during the 4th quarter worth approximately $27,000. MPS Loria Financial Planners LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $28,000. Finally, Black Swift Group LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $30,000. 94.07% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on the stock. Evercore ISI raised shares of Prologis from an “in-line” rating to an “outperform” rating and set a $121.00 price objective for the company in a research report on Wednesday, January 27th. Wells Fargo & Company increased their target price on Prologis from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday. TheStreet upgraded Prologis from a “c+” rating to a “b” rating in a research note on Friday. Raymond James began coverage on Prologis in a research note on Thursday, April 22nd. They set a “strong-buy” rating and a $125.00 target price for the company. Finally, Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating and set a $122.00 target price for the company. in a research note on Wednesday, April 21st. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $119.17.
Prologis (NYSE:PLD) last released its earnings results on Sunday, April 18th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $992.53 million. Prologis had a return on equity of 4.67% and a net margin of 38.21%. Prologis’s revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 3.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, June 16th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, June 15th. Prologis’s payout ratio is currently 76.13%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
Read More: How to invest in a bear market
Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD).
Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.