Clearbridge Investments LLC cut its position in shares of Prologis Inc (NYSE:PLD) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,539 shares of the real estate investment trust’s stock after selling 3,210 shares during the quarter. Clearbridge Investments LLC’s holdings in Prologis were worth $2,164,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in Prologis by 66.3% during the fourth quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 1,000 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in Prologis by 75.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 1,152 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Prologis during the fourth quarter worth about $200,000. BB&T Securities LLC acquired a new stake in Prologis during the third quarter worth about $213,000. Finally, ClariVest Asset Management LLC grew its position in Prologis by 30,750.0% during the third quarter. ClariVest Asset Management LLC now owns 3,702 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 3,690 shares in the last quarter. 95.39% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Thomas S. Olinger sold 46,200 shares of Prologis stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $66.33, for a total value of $3,064,446.00. Following the completion of the transaction, the chief financial officer now owns 36,325 shares in the company, valued at $2,409,437.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Zollars sold 4,020 shares of Prologis stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $60.48, for a total transaction of $243,129.60. Following the completion of the transaction, the director now owns 20,225 shares of the company’s stock, valued at approximately $1,223,208. The disclosure for this sale can be found here. Insiders sold 65,972 shares of company stock valued at $4,323,737 in the last quarter. 1.31% of the stock is currently owned by corporate insiders.
Prologis Inc (PLD) opened at $63.83 on Friday. The company has a market cap of $33,816.95, a PE ratio of 20.86, a price-to-earnings-growth ratio of 4.77 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.68 and a current ratio of 0.68. Prologis Inc has a one year low of $49.44 and a one year high of $67.53.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $550.65 million during the quarter, compared to analysts’ expectations of $533.54 million. Prologis had a net margin of 63.11% and a return on equity of 9.12%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. equities analysts expect that Prologis Inc will post 2.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.01%. This is a boost from Prologis’s previous quarterly dividend of $0.44. Prologis’s payout ratio is 62.75%.
PLD has been the topic of a number of recent research reports. Zacks Investment Research downgraded Prologis from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Evercore ISI raised Prologis from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. JPMorgan Chase & Co. downgraded Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 target price on the stock. in a research report on Friday, December 15th. BMO Capital Markets set a $68.00 target price on Prologis and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Barclays reissued an “overweight” rating and set a $72.00 target price on shares of Prologis in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $67.56.
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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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