Cambridge Investment Research Advisors Inc. Decreases Holdings in Prologis Inc (NYSE:PLD)

Cambridge Investment Research Advisors Inc. reduced its holdings in shares of Prologis Inc (NYSE:PLD) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,407 shares of the real estate investment trust’s stock after selling 736 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Prologis were worth $821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PLD. National Asset Management Inc. boosted its stake in shares of Prologis by 2.9% in the first quarter. National Asset Management Inc. now owns 4,853 shares of the real estate investment trust’s stock worth $351,000 after buying an additional 135 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Prologis by 1.7% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 230,537 shares of the real estate investment trust’s stock worth $16,587,000 after buying an additional 3,754 shares during the last quarter. Keybank National Association OH boosted its position in Prologis by 13.7% during the first quarter. Keybank National Association OH now owns 204,684 shares of the real estate investment trust’s stock worth $14,727,000 after purchasing an additional 24,684 shares in the last quarter. Foster & Motley Inc. boosted its position in Prologis by 14.4% during the first quarter. Foster & Motley Inc. now owns 20,718 shares of the real estate investment trust’s stock worth $1,491,000 after purchasing an additional 2,607 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in Prologis by 0.6% during the first quarter. New York State Common Retirement Fund now owns 1,498,968 shares of the real estate investment trust’s stock worth $107,851,000 after purchasing an additional 8,600 shares in the last quarter. 95.41% of the stock is currently owned by institutional investors.

A number of equities analysts have issued reports on the company. Citigroup set a $86.00 price target on Prologis and gave the stock a “buy” rating in a research report on Thursday, June 6th. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Goldman Sachs Group assumed coverage on Prologis in a research report on Wednesday, May 15th. They set a “conviction-buy” rating on the stock. Morgan Stanley increased their price target on Prologis from $75.00 to $78.50 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Finally, KeyCorp set a $79.00 price target on Prologis and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Four research 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. The stock currently has an average rating of “Buy” and an average target price of $74.46.

In other news, Director Philip L. Hawkins sold 9,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $78.72, for a total transaction of $708,480.00. Following the completion of the transaction, the director now directly owns 35,511 shares in the company, valued at $2,795,425.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Edward S. Nekritz sold 30,671 shares of the firm’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 $1,584,286.21. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Shares of NYSE:PLD traded down $0.18 during midday trading on Monday, hitting $79.92. The company had a trading volume of 1,810,292 shares, compared to its average volume of 2,386,224. Prologis Inc has a twelve month low of $55.21 and a twelve month high of $82.82. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $50.53 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 4.44 and a beta of 1.03. The firm’s 50-day moving average is $77.71.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $696.80 million during the quarter, compared to analysts’ expectations of $687.21 million. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. As a group, equities research analysts expect that Prologis Inc will post 3.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were given a dividend of $0.53 per share. The ex-dividend date was Wednesday, June 12th. This represents a $2.12 annualized dividend and a dividend yield of 2.65%. Prologis’s dividend payout ratio is currently 69.97%.

Prologis 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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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