Magnetar Financial LLC Takes Position in Prologis Inc (PLD)

Magnetar Financial LLC bought a new stake in shares of Prologis Inc (NYSE:PLD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 15,729 shares of the real estate investment trust’s stock, valued at approximately $998,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning grew its holdings in Prologis by 3.4% during the 2nd quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 69 shares in the last quarter. Evercore Wealth Management LLC grew its holdings in Prologis by 18.2% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock valued at $134,000 after buying an additional 350 shares in the last quarter. IFP Advisors Inc grew its holdings in Prologis by 40.7% during the 2nd quarter. IFP Advisors Inc now owns 3,164 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 915 shares in the last quarter. ETF Managers Group LLC purchased a new position in shares of Prologis in the 2nd quarter worth approximately $193,000. Finally, Lincoln National Corp purchased a new position in shares of Prologis in the 2nd quarter worth approximately $205,000. 95.57% of the stock is currently owned by institutional investors.

Prologis Inc (NYSE PLD) traded up $0.34 on Monday, reaching $66.16. The company had a trading volume of 1,518,800 shares, compared to its average volume of 2,395,203. Prologis Inc has a one year low of $48.33 and a one year high of $67.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.53. The stock has a market cap of $35,202.55, a PE ratio of 23.88, a P/E/G ratio of 4.36 and a beta of 0.91.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.67. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The company had revenue of $531.18 million during the quarter, compared to analysts’ expectations of $573.68 million. During the same quarter in the previous year, the business earned $0.14 EPS. Prologis’s revenue was down 5.2% compared to the same quarter last year. sell-side analysts anticipate that Prologis Inc will post 2.8 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 18th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, December 15th. Prologis’s payout ratio is currently 52.85%.

A number of equities analysts have recently commented on PLD shares. KeyCorp reiterated a “buy” rating and issued a $65.00 target price on shares of Prologis in a report on Sunday, August 27th. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. Bank of America set a $72.00 target price on Prologis and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, SunTrust Banks upgraded Prologis from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Tuesday, September 5th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $66.31.

In other Prologis news, CEO Eugene F. Reilly sold 15,000 shares of Prologis stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $66.61, for a total transaction of $999,150.00. Following the completion of the sale, the chief executive officer now directly owns 63,365 shares of the company’s stock, valued at approximately $4,220,742.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eugene F. Reilly sold 18,000 shares of Prologis stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $66.55, for a total value of $1,197,900.00. Following the sale, the chief executive officer now directly owns 63,365 shares of the company’s stock, valued at $4,216,940.75. The disclosure for this sale can be found here. 1.31% of the stock is owned by insiders.

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About Prologis

Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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