Resolution Capital Ltd decreased its position in shares of Prologis Inc (NYSE:PLD) by 12.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,446,288 shares of the real estate investment trust’s stock after selling 656,198 shares during the quarter. Prologis makes up approximately 10.9% of Resolution Capital Ltd’s portfolio, making the stock its 2nd largest holding. Resolution Capital Ltd’s holdings in Prologis were worth $378,913,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of PLD. NuWave Investment Management LLC boosted its stake in shares of Prologis by 394.0% during the third quarter. NuWave Investment Management LLC now owns 4,110 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 3,278 shares during the period. YHB Investment Advisors Inc. boosted its stake in shares of Prologis by 14.5% during the third quarter. YHB Investment Advisors Inc. now owns 33,441 shares of the real estate investment trust’s stock worth $2,850,000 after buying an additional 4,230 shares during the period. Camden National Bank boosted its stake in shares of Prologis by 99.5% during the third quarter. Camden National Bank now owns 52,752 shares of the real estate investment trust’s stock worth $4,496,000 after buying an additional 26,311 shares during the period. Northside Capital Management LLC acquired a new stake in shares of Prologis during the third quarter worth about $247,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Prologis by 32.8% during the third quarter. Pacer Advisors Inc. now owns 110,548 shares of the real estate investment trust’s stock worth $9,421,000 after buying an additional 27,328 shares during the period. 96.00% of the stock is currently owned by institutional investors.
NYSE:PLD traded up $2.85 during mid-day trading on Tuesday, reaching $89.11. The stock had a trading volume of 2,293,399 shares, compared to its average volume of 1,987,584. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $54.18 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 4.62 and a beta of 1.01. Prologis Inc has a twelve month low of $55.21 and a twelve month high of $86.94. The business has a 50 day simple moving average of $84.68 and a 200 day simple moving average of $79.70.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 15th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.04. Prologis had a net margin of 55.04% and a return on equity of 6.55%. The company had revenue of $712.00 million during the quarter, compared to the consensus estimate of $715.40 million. During the same period last year, the firm earned $0.72 EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, sell-side analysts expect that Prologis Inc will post 3.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.38%. Prologis’s payout ratio is 69.97%.
In other news, CFO Thomas S. Olinger sold 13,051 shares of Prologis stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total transaction of $1,073,444.75. Following the completion of the sale, the chief financial officer now directly owns 20,667 shares in the company, valued at approximately $1,699,860.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eugene F. Reilly sold 12,500 shares of Prologis stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the sale, the insider now owns 10,685 shares of the company’s stock, valued at $873,178.20. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on PLD. BMO Capital Markets reiterated a “buy” rating and set a $85.00 target price on shares of Prologis in a research note on Wednesday, July 17th. KeyCorp increased their target price on shares of Prologis from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Barclays set a $92.00 target price on shares of Prologis and gave the stock a “buy” rating in a research note on Friday. Evercore ISI set a $80.00 target price on shares of Prologis and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, SunTrust Banks raised their price objective on shares of Prologis from $81.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $81.68.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 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 768 million square feet (71 million square meters) in 19 countries.
Featured Story: What is the outlook for the FAANG stocks?
Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis Inc (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.