Mariner LLC Acquires 4,824 Shares of Prologis, Inc. (NYSE:PLD)

Mariner LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 14.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,244 shares of the real estate investment trust’s stock after purchasing an additional 4,824 shares during the quarter. Mariner LLC’s holdings in Prologis were worth $4,452,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Intrua Financial LLC boosted its stake in shares of Prologis by 1.5% during the second quarter. Intrua Financial LLC now owns 5,354 shares of the real estate investment trust’s stock valued at $690,000 after purchasing an additional 77 shares during the period. Harrington Investments INC boosted its stake in shares of Prologis by 0.5% during the second quarter. Harrington Investments INC now owns 14,697 shares of the real estate investment trust’s stock valued at $1,757,000 after purchasing an additional 79 shares during the period. Douglas Lane & Associates LLC lifted its stake in Prologis by 1.6% in the second quarter. Douglas Lane & Associates LLC now owns 5,010 shares of the real estate investment trust’s stock worth $599,000 after acquiring an additional 81 shares during the period. Venturi Wealth Management LLC lifted its stake in Prologis by 1.3% in the second quarter. Venturi Wealth Management LLC now owns 6,932 shares of the real estate investment trust’s stock worth $829,000 after acquiring an additional 90 shares during the period. Finally, Savant Capital LLC lifted its stake in Prologis by 2.5% in the second quarter. Savant Capital LLC now owns 3,791 shares of the real estate investment trust’s stock worth $453,000 after acquiring an additional 91 shares during the period. 92.23% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on PLD shares. Truist raised their price target on Prologis from $137.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, October 25th. They noted that the move was a valuation call. Raymond James raised their price target on Prologis from $143.00 to $155.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 20th. Barclays raised their price target on Prologis from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 19th. Truist Securities raised their price target on Prologis from $123.00 to $137.00 and gave the stock a “buy” rating in a research note on Saturday, July 31st. Finally, Robert W. Baird raised their price objective on Prologis from $108.00 to $124.00 and gave the company a “neutral” rating in a research report on Tuesday, July 20th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $146.47.

In related news, Director Irving F. Lyons III sold 24,000 shares of Prologis stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $133.53, for a total value of $3,204,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William D. Zollars sold 1,380 shares of Prologis stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $146.20, for a total value of $201,756.00. The disclosure for this sale can be found here. Insiders have sold 345,380 shares of company stock valued at $49,569,018 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.

Shares of NYSE:PLD opened at $148.81 on Friday. Prologis, Inc. has a 1-year low of $93.08 and a 1-year high of $149.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.41 and a quick ratio of 0.41. The business has a fifty day moving average price of $136.83 and a 200-day moving average price of $128.57. The company has a market capitalization of $110.02 billion, a PE ratio of 56.15, a PEG ratio of 4.58 and a beta of 0.78.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Friday, September 17th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, September 16th. This represents a $2.52 annualized dividend and a dividend yield of 1.69%. Prologis’s payout ratio is presently 95.09%.

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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