Midwest Professional Planners LTD. Boosts Stock Position in Prologis, Inc. $PLD

Midwest Professional Planners LTD. lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 74.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,575 shares of the real estate investment trust’s stock after acquiring an additional 3,664 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Prologis were worth $1,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in Prologis by 10.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 39,360 shares of the real estate investment trust’s stock worth $5,203,000 after acquiring an additional 3,810 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Prologis by 41.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,389 shares of the real estate investment trust’s stock valued at $315,000 after purchasing an additional 697 shares in the last quarter. Cornerstone Advisory LLC boosted its position in shares of Prologis by 4.1% in the first quarter. Cornerstone Advisory LLC now owns 3,414 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 134 shares during the period. Adell Harriman & Carpenter Inc. boosted its position in shares of Prologis by 9.2% in the first quarter. Adell Harriman & Carpenter Inc. now owns 39,733 shares of the real estate investment trust’s stock worth $5,252,000 after purchasing an additional 3,352 shares during the period. Finally, Maryland State Retirement & Pension System increased its stake in shares of Prologis by 1.1% in the first quarter. Maryland State Retirement & Pension System now owns 46,753 shares of the real estate investment trust’s stock worth $6,180,000 after purchasing an additional 487 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 0.7%

Shares of PLD opened at $143.46 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market capitalization of $133.75 billion, a price-to-earnings ratio of 36.14 and a beta of 1.32. Prologis, Inc. has a 1 year low of $103.41 and a 1 year high of $150.18. The business’s 50 day simple moving average is $142.87 and its 200-day simple moving average is $137.67.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.24. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Prologis had a net margin of 41.54% and a return on equity of 6.47%. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 earnings per share. As a group, equities analysts expect that Prologis, Inc. will post 6.17 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Prologis’s dividend payout ratio (DPR) is presently 107.81%.

Insider Buying and Selling at Prologis

In other news, CFO Timothy D. Arndt sold 3,597 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLD. Argus raised their price objective on shares of Prologis from $135.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Jefferies Financial Group dropped their target price on shares of Prologis from $157.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Evercore set a $135.00 price target on Prologis in a research note on Friday, April 17th. BMO Capital Markets decreased their price target on Prologis from $162.00 to $158.00 and set an “outperform” rating on the stock in a report on Monday, June 29th. Finally, Royal Bank Of Canada upped their price objective on Prologis from $135.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 28th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $152.00.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.