Marshall Wace North America L.P. acquired a new stake in Prologis Inc (NYSE:PLD) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,009 shares of the real estate investment trust’s stock, valued at approximately $1,871,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. National Asset Management Inc. raised its holdings in 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 purchasing 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 worth $2,886,000 after acquiring an additional 138 shares in the last quarter. 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 worth $615,000 after acquiring an additional 155 shares in the last quarter. 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 worth $82,000 after acquiring an additional 165 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in Prologis by 35.5% in the fourth quarter. Proficio Capital Partners LLC now owns 679 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 95.41% of the company’s stock.
A number of research analysts have recently commented on PLD shares. KeyCorp lifted their price objective on shares of Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets restated a “buy” rating and set a $70.00 target price on shares of Prologis in a research note on Sunday, April 21st. Morgan Stanley cut shares of Meili from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $14.00 to $4.20 in a research note on Monday, June 3rd. Goldman Sachs Group assumed coverage on shares of Liberty Property Trust in a research note on Wednesday, May 15th. They set a “neutral” rating and a $49.00 target price for the company. Finally, Citigroup set a $86.00 price objective on shares of Prologis and gave the stock a “buy” rating in a research note on Thursday, June 6th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $74.96.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. Prologis had a net margin of 56.56% and a return on equity of 6.83%. The firm had revenue of $696.80 million for the quarter, compared to analyst estimates of $687.21 million. During the same period in the previous year, the firm posted $0.80 EPS. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, equities research analysts predict that Prologis Inc will post 3.23 earnings per share for the current 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 $0.53 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.65%. Prologis’s dividend payout ratio (DPR) is currently 69.97%.
In related news, insider Edward S. Nekritz sold 30,671 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 21,121 shares in the company, valued at approximately $1,584,286.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip L. Hawkins sold 9,000 shares of the company’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 transaction, the director now owns 35,511 shares in the company, valued at approximately $2,795,425.92. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by 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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