Horizon Investments LLC acquired a new stake in Prologis Inc (NYSE:PLD) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,979 shares of the real estate investment trust’s stock, valued at approximately $214,000.
Several other institutional investors have also made changes to their positions in the company. Cipher Capital LP purchased a new stake in Prologis during the 4th quarter valued at $4,142,000. Phocas Financial Corp. boosted its position in Prologis by 78.5% during the 4th quarter. Phocas Financial Corp. now owns 35,214 shares of the real estate investment trust’s stock valued at $2,068,000 after buying an additional 15,491 shares during the period. Candriam Luxembourg S.C.A. boosted its position in Prologis by 3.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 88,103 shares of the real estate investment trust’s stock valued at $5,173,000 after buying an additional 2,819 shares during the period. State Treasurer State of Michigan boosted its position in Prologis by 0.8% during the 1st quarter. State Treasurer State of Michigan now owns 181,611 shares of the real estate investment trust’s stock valued at $13,067,000 after buying an additional 1,400 shares during the period. Finally, Cetera Investment Advisers boosted its position in Prologis by 10.6% during the 1st quarter. Cetera Investment Advisers now owns 8,416 shares of the real estate investment trust’s stock valued at $607,000 after buying an additional 809 shares during the period. 95.41% of the stock is owned by institutional investors.
NYSE:PLD traded down $0.99 on Friday, reaching $80.03. 3,177,698 shares of the stock traded hands, compared to its average volume of 2,135,749. The firm has a market capitalization of $51.11 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 4.59 and a beta of 1.03. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. Prologis Inc has a 12 month low of $55.21 and a 12 month high of $83.99. The stock’s fifty day moving average is $78.99.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.12 dividend on an annualized basis and a yield of 2.65%. Prologis’s dividend payout ratio is currently 69.97%.
PLD has been the subject of several analyst reports. Morgan Stanley cut shares of Meili from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $14.00 to $4.20 in a research report on Monday, June 3rd. BMO Capital Markets restated a “buy” rating and issued a $70.00 price objective on shares of Prologis in a report on Sunday, April 21st. KeyCorp upped their price objective on shares of Terreno Realty from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, Goldman Sachs Group initiated coverage on shares of Liberty Property Trust in a report on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $74.96.
In other news, Director Philip L. Hawkins sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total transaction of $708,480.00. Following the sale, the director now owns 35,511 shares of the company’s stock, valued at approximately $2,795,425.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Edward S. Nekritz sold 30,671 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the sale, the insider now directly owns 21,121 shares in the company, valued at approximately $1,584,286.21. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
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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