D.A. Davidson & CO. purchased a new position in shares of Prologis Inc (NYSE:PLD) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,484 shares of the real estate investment trust’s stock, valued at approximately $236,000.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in shares of Prologis by 13.9% in the third quarter. BlackRock Inc. now owns 65,329,786 shares of the real estate investment trust’s stock valued at $4,428,704,000 after buying an additional 7,959,713 shares in the last quarter. FMR LLC grew its stake in shares of Prologis by 24.0% in the third quarter. FMR LLC now owns 19,644,732 shares of the real estate investment trust’s stock valued at $1,331,716,000 after buying an additional 3,801,952 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Prologis by 118.2% in the third quarter. JPMorgan Chase & Co. now owns 17,082,538 shares of the real estate investment trust’s stock valued at $1,158,026,000 after buying an additional 9,255,117 shares in the last quarter. Cbre Clarion Securities LLC grew its stake in shares of Prologis by 2.7% in the second quarter. Cbre Clarion Securities LLC now owns 7,919,441 shares of the real estate investment trust’s stock valued at $520,228,000 after buying an additional 210,819 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Prologis by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,900,910 shares of the real estate investment trust’s stock valued at $519,006,000 after buying an additional 90,370 shares in the last quarter. 94.94% of the stock is owned by institutional investors.
In other news, CEO Eugene F. Reilly sold 15,000 shares of Prologis stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $67.20, for a total transaction of $1,008,000.00. Following the completion of the sale, the chief executive officer now owns 36,685 shares of the company’s stock, valued at $2,465,232. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward S. Nekritz sold 18,099 shares of Prologis stock in a transaction on Friday, September 21st. The stock was sold at an average price of $67.66, for a total value of $1,224,578.34. Following the sale, the insider now directly owns 106,102 shares of the company’s stock, valued at approximately $7,178,861.32. The disclosure for this sale can be found here. Insiders have sold a total of 52,907 shares of company stock valued at $3,565,328 in the last ninety days. Insiders own 1.31% of the company’s stock.
Shares of Prologis stock opened at $66.84 on Friday. Prologis Inc has a 1 year low of $58.28 and a 1 year high of $68.95. The firm has a market cap of $42.09 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 4.40 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.32 and a quick ratio of 0.32.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. Prologis had a return on equity of 6.65% and a net margin of 51.66%. The business had revenue of $611.00 million during the quarter, compared to the consensus estimate of $582.23 million. During the same quarter last year, the firm posted $1.63 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, sell-side analysts forecast that Prologis Inc will post 3.02 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Tuesday, December 18th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Monday, December 17th. Prologis’s dividend payout ratio is 68.33%.
Several research firms recently weighed in on PLD. ValuEngine raised shares of Prologis from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research cut shares of Prologis from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. BMO Capital Markets reissued a “buy” rating and issued a $70.00 target price on shares of Prologis in a research note on Tuesday, October 16th. Scotiabank began coverage on shares of Prologis in a research note on Tuesday, October 16th. They issued a “sector perform” rating for the company. Finally, Barclays reissued a “buy” rating and issued a $70.00 target price on shares of Prologis in a research note on Sunday, October 14th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $71.93.
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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2018, 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 771 million square feet (72 million square meters) in 19 countries.
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