TD Private Client Wealth LLC Boosts Position in Prologis, Inc. $PLD

TD Private Client Wealth LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 10.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,165 shares of the real estate investment trust’s stock after purchasing an additional 8,838 shares during the period. TD Private Client Wealth LLC’s holdings in Prologis were worth $10,555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Prologis by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 121,741,332 shares of the real estate investment trust’s stock worth $12,797,449,000 after buying an additional 401,922 shares during the last quarter. State Street Corp grew its position in Prologis by 1.9% in the second quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after acquiring an additional 1,088,544 shares during the period. Geode Capital Management LLC increased its stake in Prologis by 1.4% during the second quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock worth $2,345,922,000 after acquiring an additional 310,333 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Prologis by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock valued at $1,735,205,000 after purchasing an additional 253,338 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Prologis during the 2nd quarter worth $1,288,936,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 0.3%

Prologis stock opened at $129.05 on Tuesday. The firm has a market capitalization of $119.87 billion, a P/E ratio of 37.62, a P/E/G ratio of 3.80 and a beta of 1.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $131.70. The stock’s fifty day simple moving average is $127.26 and its 200-day simple moving average is $117.84.

Prologis (NYSE:PLD) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm had revenue of $2.21 billion during the quarter. As a group, equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.1%. Prologis’s dividend payout ratio (DPR) is 117.78%.

Insider Activity at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director James B. Connor sold 80,000 shares of Prologis stock in a transaction on Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 81,121 shares of company stock worth $10,267,210. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLD shares. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research report on Monday, October 20th. Barclays dropped their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Industrial Alliance Securities set a $119.00 price target on Prologis in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Prologis in a research note on Monday, December 29th. Finally, Evercore ISI boosted their price objective on Prologis from $116.00 to $118.00 in a report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.18.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.