Pegasus Partners Ltd. increased its stake in shares of Prologis (NYSE:PLD) by 14.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,162 shares of the real estate investment trust’s stock after purchasing an additional 2,883 shares during the quarter. Pegasus Partners Ltd.’s holdings in Prologis were worth $1,459,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of PLD. Signaturefd LLC purchased a new stake in Prologis during the 1st quarter worth about $142,000. Virtue Capital Management LLC purchased a new stake in Prologis during the 4th quarter worth about $143,000. Parallel Advisors LLC increased its position in Prologis by 66.3% during the 4th quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 1,000 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Prologis by 75.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Premia Global Advisors LLC purchased a new stake in Prologis during the 4th quarter worth about $192,000. Hedge funds and other institutional investors own 94.16% of the company’s stock.
PLD has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Barclays lifted their price target on Prologis from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Tuesday, May 15th. BMO Capital Markets restated a “buy” rating on shares of Prologis in a report on Friday. Finally, Citigroup restated a “buy” rating on shares of Prologis in a report on Monday, April 30th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Prologis currently has an average rating of “Buy” and an average price target of $69.00.
In other news, insider Michael S. Curless sold 14,465 shares of Prologis stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $62.49, for a total value of $903,917.85. Following the transaction, the insider now directly owns 102 shares of the company’s stock, valued at approximately $6,373.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey L. Skelton sold 3,618 shares of Prologis stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $65.41, for a total value of $236,653.38. Following the completion of the transaction, the director now directly owns 47,708 shares in the company, valued at $3,120,580.28. The disclosure for this sale can be found here. Insiders sold a total of 21,701 shares of company stock worth $1,377,116 over the last ninety days. Corporate insiders own 1.32% of the company’s stock.
PLD opened at $63.24 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $33.72 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 4.24 and a beta of 0.82. Prologis has a 12 month low of $54.60 and a 12 month high of $67.53.
Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, April 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.33. The business had revenue of $555.90 million for the quarter, compared to analyst estimates of $552.42 million. Prologis had a return on equity of 9.86% and a net margin of 67.65%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. sell-side analysts forecast that Prologis will post 3.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, June 14th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Wednesday, June 13th. Prologis’s dividend payout ratio is currently 68.33%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2017, 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 684 million square feet (64 million square meters) in 19 countries.
Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis (NYSE:PLD).
Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.