Trillium Asset Management LLC trimmed its holdings in Prologis Inc (NYSE:PLD) by 0.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 78,110 shares of the real estate investment trust’s stock after selling 456 shares during the quarter. Trillium Asset Management LLC’s holdings in Prologis were worth $5,620,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. Cipher Capital LP bought a new position in shares of Prologis during the 4th quarter valued at approximately $4,142,000. Phocas Financial Corp. lifted its holdings in Prologis by 78.5% in the 4th quarter. Phocas Financial Corp. now owns 35,214 shares of the real estate investment trust’s stock worth $2,068,000 after purchasing an additional 15,491 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in Prologis by 3.3% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 88,103 shares of the real estate investment trust’s stock worth $5,173,000 after purchasing an additional 2,819 shares in the last quarter. Wambolt & Associates LLC purchased a new position in Prologis in the 4th quarter worth approximately $562,000. Finally, Miles Capital Inc. raised its holdings in shares of Prologis by 19.7% during the 4th quarter. Miles Capital Inc. now owns 22,219 shares of the real estate investment trust’s stock worth $1,305,000 after acquiring an additional 3,659 shares in the last quarter. Institutional investors own 94.95% of the company’s stock.
Several analysts have recently issued reports on PLD shares. Citigroup set a $86.00 price objective on Prologis and gave the stock a “buy” rating in a report on Wednesday, May 8th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Friday, April 26th. KeyCorp set a $79.00 target price on Prologis and gave the company a “buy” rating in a research report on Tuesday, April 23rd. BMO Capital Markets reissued a “buy” rating and set a $70.00 target price on shares of Prologis in a research report on Sunday, April 21st. Finally, Barclays reissued a “buy” rating on shares of Prologis in a research report on Thursday, February 21st. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $74.15.
Shares of NYSE PLD traded up $0.97 during trading hours on Thursday, hitting $76.98. 36,839 shares of the company traded hands, compared to its average volume of 2,441,683. The company has a market cap of $47.35 billion, a P/E ratio of 25.42, a P/E/G ratio of 4.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.36 and a current ratio of 0.36. Prologis Inc has a 12 month low of $55.21 and a 12 month high of $78.56.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The firm had revenue of $696.80 million for the quarter, compared to the consensus estimate of $687.21 million. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, equities analysts predict that Prologis Inc will post 3.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.75%. The ex-dividend date is Wednesday, June 12th. Prologis’s dividend payout ratio (DPR) is presently 69.97%.
In other Prologis news, insider Edward S. Nekritz sold 30,671 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total value of $2,300,631.71. Following the transaction, the insider now owns 21,121 shares of the company’s stock, valued at approximately $1,584,286.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward S. Nekritz sold 16,059 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $71.86, for a total value of $1,153,999.74. Following the completion of the transaction, the insider now directly owns 51,792 shares in the company, valued at approximately $3,721,773.12. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 768 million square feet (71 million square meters) in 19 countries.
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