Strategic Investment Advisors MI acquired a new stake in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,084 shares of the real estate investment trust’s stock, valued at approximately $208,000.
A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Prologis by 3.8% during the third quarter. BlackRock Inc. now owns 74,573,539 shares of the real estate investment trust’s stock worth $7,503,588,000 after buying an additional 2,758,591 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Prologis by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 27,054,679 shares of the real estate investment trust’s stock worth $2,694,917,000 after buying an additional 2,051,834 shares in the last quarter. PGGM Investments lifted its holdings in shares of Prologis by 9.1% during the third quarter. PGGM Investments now owns 8,577,655 shares of the real estate investment trust’s stock worth $863,084,000 after buying an additional 718,859 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Prologis by 4.1% during the third quarter. UBS Asset Management Americas Inc. now owns 6,400,319 shares of the real estate investment trust’s stock worth $644,000,000 after buying an additional 250,106 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Prologis by 3.9% during the third quarter. Morgan Stanley now owns 5,085,584 shares of the real estate investment trust’s stock worth $511,709,000 after buying an additional 192,178 shares in the last quarter. Hedge funds and other institutional investors own 94.75% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating and set a $111.00 target price for the company. in a report on Thursday, October 8th. The Goldman Sachs Group began coverage on Prologis in a research note on Tuesday, September 29th. They issued a “buy” rating for the company. BTIG Research boosted their price target on Prologis from $100.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, November 30th. BidaskClub raised Prologis from a “sell” rating to a “hold” rating in a research note on Friday, December 18th. Finally, UBS Group began coverage on Prologis in a research note on Friday, October 16th. They issued a “buy” rating and a $126.00 price target for the company. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Prologis presently has a consensus rating of “Buy” and an average price target of $107.80.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 20th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.48). The business had revenue of $984.00 million for the quarter, compared to analyst estimates of $955.32 million. Prologis had a return on equity of 5.55% and a net margin of 43.27%. The firm’s revenue was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. On average, sell-side analysts predict that Prologis, Inc. will post 3.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 31st. Stockholders of record on Friday, December 18th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, December 17th. Prologis’s dividend payout ratio (DPR) is currently 70.09%.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2020, 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 976 million square feet (91 million square meters) in 19 countries.
Featured Story: How do analysts define an oversold condition?
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.