Prologis, Inc. $PLD Shares Bought by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC grew its holdings in Prologis, Inc. (NYSE:PLD) by 28.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,000 shares of the real estate investment trust’s stock after buying an additional 50,000 shares during the quarter. Prologis comprises 1.1% of Pacific Heights Asset Management LLC’s investment portfolio, making the stock its 18th biggest holding. Pacific Heights Asset Management LLC’s holdings in Prologis were worth $25,767,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Prologis in the second quarter worth $1,288,936,000. Franklin Resources Inc. boosted its position in shares of Prologis by 216.0% during the 2nd quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust’s stock worth $1,056,545,000 after purchasing an additional 6,870,479 shares in the last quarter. State Street Corp grew its stake in shares of Prologis by 1.9% during the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after purchasing an additional 1,088,544 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of Prologis by 11,585.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 882,398 shares of the real estate investment trust’s stock worth $92,758,000 after purchasing an additional 874,847 shares during the period. Finally, Amundi increased its holdings in shares of Prologis by 17.0% in the 2nd quarter. Amundi now owns 4,630,744 shares of the real estate investment trust’s stock valued at $501,556,000 after purchasing an additional 673,861 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Up 0.3%

Shares of NYSE PLD opened at $133.21 on Tuesday. The firm’s 50-day moving average is $128.03 and its two-hundred day moving average is $118.74. The company has a market capitalization of $123.74 billion, a PE ratio of 38.84, a price-to-earnings-growth ratio of 3.91 and a beta of 1.40. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $134.94. 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 (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. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.21 billion during the quarter. Equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, December 16th. Prologis’s payout ratio is 117.78%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. UBS Group boosted their price objective on shares of Prologis from $137.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Wells Fargo & Company increased their target price on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Robert W. Baird reissued a “neutral” rating and set a $130.00 price target (up previously from $128.00) on shares of Prologis in a research note on Thursday, January 8th. Scotiabank upgraded Prologis from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $133.00 to $146.00 in a report on Wednesday, January 14th. Finally, Barclays reaffirmed an “overweight” rating and issued a $139.00 price objective on shares of Prologis in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the transaction, the director owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. The trade was a 7.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James B. Connor sold 80,000 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $126.58, for a total transaction of $10,126,400.00. The disclosure for this sale is available in the SEC filing. Insiders sold 81,121 shares of company stock worth $10,267,210 over the last 90 days. Company insiders own 0.57% of the company’s stock.

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.