Prologis, Inc. $PLD Shares Sold by Perpetual Ltd

Perpetual Ltd lowered its holdings in Prologis, Inc. (NYSE:PLD) by 3.7% in the third quarter, Holdings Channel.com reports. The fund owned 349,984 shares of the real estate investment trust’s stock after selling 13,474 shares during the quarter. Perpetual Ltd’s holdings in Prologis were worth $40,080,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Prologis by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 121,741,332 shares of the real estate investment trust’s stock valued at $12,797,449,000 after purchasing an additional 401,922 shares in the last quarter. State Street Corp boosted its holdings in Prologis by 1.9% during the second quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after buying an additional 1,088,544 shares in the last quarter. Geode Capital Management LLC grew its position in Prologis by 1.4% during the second quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock worth $2,345,922,000 after buying an additional 310,333 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Prologis by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock valued at $1,735,205,000 after buying an additional 253,338 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Prologis during the 2nd quarter valued at approximately $1,288,936,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the sale, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,621 shares of company stock worth $198,655 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Scotiabank upped their price target on Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Evercore ISI raised their price target on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research report on Thursday, October 16th. Wells Fargo & Company boosted their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Weiss Ratings raised shares of Prologis from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $126.88.

Prologis Stock Down 0.4%

Shares of NYSE:PLD opened at $127.20 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $131.70. The stock’s fifty day simple moving average is $125.69 and its 200-day simple moving average is $115.33. The company has a market capitalization of $118.15 billion, a P/E ratio of 37.09, a P/E/G ratio of 3.92 and a beta of 1.40.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. The firm had revenue of $2.21 billion during the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. As a group, equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, December 16th. Prologis’s payout ratio is currently 117.78%.

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.