Lord Abbett & CO. LLC Sells 37,746 Shares of Prologis, Inc. (NYSE:PLD)

Lord Abbett & CO. LLC lowered its stake in Prologis, Inc. (NYSE:PLD) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,212,871 shares of the real estate investment trust’s stock after selling 37,746 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Prologis were worth $152,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. raised its stake in Prologis by 147.7% during the 3rd quarter. Financial Management Professionals Inc. now owns 218 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 130 shares during the period. Strategic Blueprint LLC purchased a new position in shares of Prologis in the 2nd quarter worth approximately $30,000. Benjamin Edwards Inc. purchased a new position in Prologis during the 3rd quarter valued at $33,000. TCI Wealth Advisors Inc. boosted its holdings in Prologis by 26.0% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 339 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 70 shares during the period. Finally, Albion Financial Group UT bought a new stake in Prologis during the 2nd quarter valued at $48,000. 92.23% of the stock is currently owned by institutional investors.

A number of brokerages have weighed in on PLD. Wells Fargo & Company lifted their target price on Prologis from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, November 19th. Barclays boosted their price target on Prologis from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 19th. BTIG Research boosted their price target on Prologis from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Wednesday, October 20th. Raymond James boosted their price target on Prologis from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Monday. Finally, Morgan Stanley boosted their target price on Prologis from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 15th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $152.07.

Shares of NYSE:PLD opened at $153.02 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.41 and a current ratio of 0.41. The company has a market cap of $113.13 billion, a PE ratio of 57.74, a price-to-earnings-growth ratio of 5.07 and a beta of 0.81. Prologis, Inc. has a 52 week low of $93.08 and a 52 week high of $169.93. The firm has a 50 day simple moving average of $155.99 and a 200 day simple moving average of $139.90.

Prologis (NYSE:PLD) last released its earnings results on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). Prologis had a return on equity of 5.42% and a net margin of 42.95%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $0.90 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities analysts predict that Prologis, Inc. will post 4.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Tuesday, December 14th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, December 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.65%. Prologis’s dividend payout ratio is currently 95.09%.

In related news, Director William D. Zollars sold 1,955 shares of the firm’s stock in a transaction on Wednesday, December 22nd. The shares were sold at an average price of $162.26, for a total value of $317,218.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hamid R. Moghadam sold 305,645 shares of the firm’s stock in a transaction on Friday, October 22nd. The stock was sold at an average price of $144.24, for a total transaction of $44,086,234.80. The disclosure for this sale can be found here. Insiders have sold a total of 323,335 shares of company stock worth $46,681,516 in the last 90 days. 0.87% of the stock is owned by insiders.

About Prologis

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

Read More: What is a balanced fund?

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).

Institutional Ownership by Quarter for Prologis (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.