Ninepoint Partners LP raised its position in Prologis (NYSE:PLD) by 60.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,600 shares of the real estate investment trust’s stock after purchasing an additional 2,100 shares during the quarter. Ninepoint Partners LP’s holdings in Prologis were worth $353,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PLD. Signaturefd LLC purchased a new stake in Prologis in the 1st quarter worth about $142,000. Virtue Capital Management LLC bought a new position in Prologis in the 4th quarter worth about $143,000. Parallel Advisors LLC grew its stake in Prologis by 66.3% in the 4th quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 1,000 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in Prologis by 75.5% in 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 acquiring an additional 1,152 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Prologis by 50.7% in the 1st quarter. IFP Advisors Inc now owns 2,809 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 945 shares in the last quarter. 94.16% of the stock is currently owned by institutional investors.
In other news, Director Jeffrey L. Skelton sold 3,618 shares of the stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $65.41, for a total transaction of $236,653.38. Following the transaction, the director now directly owns 47,708 shares in the company, valued at $3,120,580.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael S. Curless sold 14,465 shares of the stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $62.49, for a total transaction of $903,917.85. Following the transaction, the insider now owns 102 shares in the company, valued at $6,373.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,701 shares of company stock worth $1,377,116. Insiders own 1.31% of the company’s stock.
NYSE PLD opened at $64.77 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.66 and a current ratio of 0.66. Prologis has a 52-week low of $55.21 and a 52-week high of $67.53. The company has a market cap of $34.00 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 4.28 and a beta of 0.82.
Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, April 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.33. Prologis had a net margin of 67.65% and a return on equity of 9.86%. The firm had revenue of $555.90 million for the quarter, compared to the consensus estimate of $552.42 million. During the same period last year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. equities analysts predict that Prologis will post 3.01 earnings per share for the current year.
The firm 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 dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.96%. Prologis’s dividend payout ratio is presently 68.33%.
A number of brokerages have commented on PLD. BMO Capital Markets restated a “buy” rating on shares of Prologis in a research note on Friday, May 18th. ValuEngine downgraded shares of Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Tuesday, May 15th. Citigroup restated a “buy” rating on shares of Prologis in a research note on Monday, April 30th. Finally, Royal Bank of Canada set a $71.00 target price on shares of Prologis and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.00.
Prologis Company Profile
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.
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