L & S Advisors Inc decreased its stake in shares of Prologis Inc (NYSE:PLD) by 10.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,441 shares of the real estate investment trust’s stock after selling 2,048 shares during the quarter. L & S Advisors Inc’s holdings in Prologis were worth $1,024,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group increased its position in Prologis by 13.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,389 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 165 shares in the last quarter. Proficio Capital Partners LLC increased its position in Prologis by 35.5% during the fourth quarter. Proficio Capital Partners LLC now owns 679 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 178 shares in the last quarter. Cornerstone Advisors Inc. increased its position in Prologis by 14.5% during the third quarter. Cornerstone Advisors Inc. now owns 1,424 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 180 shares in the last quarter. AdvisorNet Financial Inc increased its position in Prologis by 30.4% during the fourth quarter. AdvisorNet Financial Inc now owns 910 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 212 shares in the last quarter. Finally, Archford Capital Strategies LLC increased its position in Prologis by 3.0% during the fourth quarter. Archford Capital Strategies LLC now owns 7,199 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 212 shares in the last quarter. 94.82% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on PLD shares. Deutsche Bank raised Prologis from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $72.00 in a research report on Tuesday, December 18th. Barclays reaffirmed a “buy” rating on shares of Prologis in a research report on Thursday, February 21st. ValuEngine raised Prologis from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. Wells Fargo & Co set a $65.00 price objective on Prologis and gave the company a “market perform” rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. Finally, Robert W. Baird downgraded Prologis from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $73.00 to $71.00 in a research report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Prologis presently has an average rating of “Buy” and a consensus target price of $71.77.
In other Prologis news, Director William D. Zollars sold 1,610 shares of the business’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $61.53, for a total transaction of $99,063.30. Following the transaction, the director now owns 9,880 shares in the company, valued at $607,916.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Edward S. Nekritz sold 32,499 shares of the business’s stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $68.32, for a total value of $2,220,331.68. Following the transaction, the insider now owns 91,158 shares in the company, valued at approximately $6,227,914.56. The disclosure for this sale can be found here. Insiders sold 112,677 shares of company stock worth $7,840,992 in the last quarter. 1.32% of the stock is owned by insiders.
Prologis stock traded down $0.01 during midday trading on Friday, reaching $71.77. The stock had a trading volume of 11,552 shares, compared to its average volume of 2,675,000. Prologis Inc has a twelve month low of $55.21 and a twelve month high of $72.82. The stock has a market capitalization of $45.25 billion, a P/E ratio of 23.66, a PEG ratio of 4.37 and a beta of 1.02. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.43.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, January 22nd. The real estate investment trust reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. Prologis had a return on equity of 7.46% and a net margin of 58.81%. The firm had revenue of $679.20 million for the quarter, compared to analysts’ expectations of $661.64 million. During the same quarter last year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, sell-side analysts predict that Prologis Inc will post 3.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.12 dividend on an annualized basis and a yield of 2.95%. This is a boost from Prologis’s previous quarterly dividend of $0.48. Prologis’s dividend payout ratio (DPR) is presently 63.37%.
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Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 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 768 million square feet (71 million square meters) in 19 countries.
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