State of Tennessee Treasury Department reduced its stake in Prologis Inc (NYSE:PLD) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 409,352 shares of the real estate investment trust’s stock after selling 26,912 shares during the quarter. State of Tennessee Treasury Department’s holdings in Prologis were worth $26,408,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Timber Hill LLC lifted its stake in shares of Prologis by 89.7% in the fourth quarter. Timber Hill LLC now owns 17,312 shares of the real estate investment trust’s stock worth $1,117,000 after acquiring an additional 8,186 shares during the period. Norinchukin Bank The increased its holdings in Prologis by 7.5% in the fourth quarter. Norinchukin Bank The now owns 42,542 shares of the real estate investment trust’s stock worth $2,744,000 after purchasing an additional 2,956 shares in the last quarter. ARP Americas LP bought a new stake in Prologis in the fourth quarter worth approximately $1,271,000. Ontario Teachers Pension Plan Board increased its holdings in Prologis by 6.9% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 153,557 shares of the real estate investment trust’s stock worth $9,906,000 after purchasing an additional 9,872 shares in the last quarter. Finally, American International Group Inc. increased its holdings in Prologis by 7.5% in the fourth quarter. American International Group Inc. now owns 215,151 shares of the real estate investment trust’s stock worth $13,879,000 after purchasing an additional 14,977 shares in the last quarter. 93.45% of the stock is currently owned by institutional investors.
In related news, CEO Eugene F. Reilly sold 15,000 shares of the company’s 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 owns 63,365 shares in the company, valued at $4,220,742.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward S. Nekritz sold 15,752 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total value of $1,016,161.52. Following the sale, the insider now owns 146,414 shares of the company’s stock, valued at approximately $9,445,167.14. The disclosure for this sale can be found here. Insiders have sold 103,872 shares of company stock valued at $6,843,648 in the last quarter. 1.31% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on PLD. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. JPMorgan Chase & Co. downgraded Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 price objective for the company. in a report on Friday, December 15th. Jefferies Group restated a “neutral” rating on shares of Prologis in a report on Wednesday, January 24th. Robert W. Baird boosted their price objective on Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Wells Fargo & Co set a $65.00 price objective on Prologis and gave the company a “hold” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Prologis has an average rating of “Buy” and an average price target of $67.56.
Shares of Prologis Inc (PLD) opened at $59.94 on Friday. Prologis Inc has a 1-year low of $48.80 and a 1-year high of $67.53. The stock has a market capitalization of $31,935.27, a price-to-earnings ratio of 19.59, a P/E/G ratio of 4.51 and a beta of 0.83. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.51.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The business had revenue of $550.65 million during the quarter, compared to the consensus estimate of $533.54 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Prologis’s revenue was down 1.6% compared to the same quarter last year. analysts forecast that Prologis Inc will post 2.9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.20%. This is an increase from Prologis’s previous quarterly dividend of $0.44. Prologis’s dividend payout ratio is 57.52%.
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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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