Prologis, Inc. $PLD Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its stake in Prologis, Inc. (NYSE:PLD) by 15.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 229,119 shares of the real estate investment trust’s stock after selling 41,645 shares during the quarter. Pacer Advisors Inc.’s holdings in Prologis were worth $26,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Prologis by 0.3% in 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 purchasing an additional 401,922 shares in the last quarter. State Street Corp lifted its stake in Prologis by 1.9% during the second quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock valued at $6,164,325,000 after buying an additional 1,088,544 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Prologis by 1.4% in 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 in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Prologis by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock worth $1,735,205,000 after acquiring an additional 253,338 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Prologis during the second quarter valued at approximately $1,288,936,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PLD. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research report on Monday, October 20th. Scotiabank lifted their price target on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. Barclays dropped their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research report on Monday, October 20th. Finally, UBS Group set a $138.00 target price on Prologis in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $127.00.

Prologis Stock Performance

Shares of PLD stock opened at $128.83 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $131.70. The stock’s 50-day moving average is $126.61 and its two-hundred day moving average is $116.01. The firm has a market cap of $119.67 billion, a P/E ratio of 37.56, a PEG ratio of 3.97 and a beta of 1.40.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. The firm had revenue of $2.21 billion for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, December 16th. Prologis’s dividend payout ratio is 117.78%.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the transaction, the director owned 8,208 shares in the company, valued at $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 1,621 shares of company stock worth $198,655 in the last 90 days. Company insiders own 0.57% of the company’s stock.

Prologis Profile

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.