CIBC World Markets Inc. Makes New Investment in Prologis Inc (NYSE:PLD)

CIBC World Markets Inc. purchased a new position in Prologis Inc (NYSE:PLD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,403 shares of the real estate investment trust’s stock, valued at approximately $605,000.

Other large investors also recently modified their holdings of the company. National Asset Management Inc. raised its stake in Prologis by 2.9% in the 1st quarter. National Asset Management Inc. now owns 4,853 shares of the real estate investment trust’s stock valued at $351,000 after acquiring an additional 135 shares during the period. Avitas Wealth Management LLC increased its position in shares of Prologis by 0.3% during the first quarter. Avitas Wealth Management LLC now owns 40,105 shares of the real estate investment trust’s stock valued at $2,886,000 after buying an additional 138 shares during the period. Ashfield Capital Partners LLC increased its position in shares of Prologis by 1.8% during the first quarter. Ashfield Capital Partners LLC now owns 8,550 shares of the real estate investment trust’s stock valued at $615,000 after buying an additional 155 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Prologis by 13.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,389 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 165 shares during the period. Finally, Proficio Capital Partners LLC increased its position in shares of Prologis by 35.5% during the fourth quarter. Proficio Capital Partners LLC now owns 679 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 178 shares during the period. 95.41% of the stock is currently owned by institutional investors.

Several equities research analysts have recently weighed in on PLD shares. KeyCorp upped their price target on Prologis from $72.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, March 25th. BMO Capital Markets restated a “buy” rating and issued a $70.00 price objective on shares of Prologis in a research report on Sunday, April 21st. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Friday, April 26th. Citigroup upped their price objective on shares of Prologis from $73.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Goldman Sachs Group began coverage on shares of Prologis in a research report on Wednesday, May 15th. They issued a “conviction-buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $74.46.

In other news, Director Philip L. Hawkins sold 9,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 35,511 shares of the company’s stock, valued at $2,795,425.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Edward S. Nekritz sold 30,671 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $75.01, for a total value of $2,300,631.71. Following the sale, the insider now directly owns 21,121 shares of the company’s stock, valued at approximately $1,584,286.21. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

PLD traded down $0.18 during midday trading on Monday, hitting $79.92. The stock had a trading volume of 1,810,292 shares, compared to its average volume of 2,386,224. The stock has a market capitalization of $50.53 billion, a P/E ratio of 26.38, a P/E/G ratio of 4.44 and a beta of 1.03. The company’s fifty day moving average is $77.71. 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 1 year low of $55.21 and a 1 year high of $82.82.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The business had revenue of $696.80 million during the quarter, compared to analyst estimates of $687.21 million. Prologis had a return on equity of 6.83% and a net margin of 56.56%. Prologis’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, research analysts expect that Prologis Inc will post 3.23 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Wednesday, June 12th. 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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