Ieq Capital LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 70.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 14,324 shares of the real estate investment trust’s stock after acquiring an additional 5,937 shares during the period. Ieq Capital LLC’s holdings in Prologis were worth $1,455,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. U.S. Capital Wealth Advisors LLC raised its position in shares of Prologis by 1.2% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 5,985 shares of the real estate investment trust’s stock valued at $704,000 after purchasing an additional 73 shares in the last quarter. ARGI Investment Services LLC raised its position in shares of Prologis by 1.6% in the 2nd quarter. ARGI Investment Services LLC now owns 5,335 shares of the real estate investment trust’s stock valued at $628,000 after purchasing an additional 82 shares in the last quarter. Acas LLC raised its position in shares of Prologis by 4.8% in the 2nd quarter. Acas LLC now owns 1,873 shares of the real estate investment trust’s stock valued at $248,000 after purchasing an additional 86 shares in the last quarter. Founders Capital Management raised its position in shares of Prologis by 19.7% in the 2nd quarter. Founders Capital Management now owns 547 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 90 shares in the last quarter. Finally, Avitas Wealth Management LLC raised its position in shares of Prologis by 0.6% in the 2nd quarter. Avitas Wealth Management LLC now owns 14,520 shares of the real estate investment trust’s stock valued at $1,708,000 after purchasing an additional 91 shares in the last quarter. 75.84% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Raymond James dropped their price target on Prologis from $160.00 to $130.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 18th. Wells Fargo & Company upped their price target on Prologis to $141.00 in a research report on Wednesday, December 14th. Barclays dropped their price target on Prologis from $183.00 to $162.00 and set an “overweight” rating on the stock in a research report on Thursday, October 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Prologis from $156.00 to $149.00 in a research report on Wednesday, November 2nd. Finally, Citigroup upped their price objective on Prologis to $140.00 in a research note on Wednesday, December 14th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $142.89.
Prologis Trading Up 0.3 %
Prologis (NYSE:PLD – Get Rating) last announced its earnings results on Wednesday, January 18th. The real estate investment trust reported $1.24 EPS for the quarter, beating the consensus estimate of $1.21 by $0.03. Prologis had a return on equity of 7.71% and a net margin of 56.33%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $1.12 earnings per share. Prologis’s revenue was up 37.2% compared to the same quarter last year. On average, equities analysts forecast that Prologis, Inc. will post 5.53 EPS for the current fiscal year.
Prologis Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Monday, December 19th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Friday, December 16th. Prologis’s dividend payout ratio is 72.64%.
In other Prologis news, Director David P. Oconnor acquired 9,000 shares of Prologis stock in a transaction that occurred on Monday, November 28th. The stock was purchased at an average cost of $114.13 per share, with a total value of $1,027,170.00. Following the purchase, the director now owns 9,000 shares in the company, valued at $1,027,170. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.
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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