Archford Capital Strategies LLC lifted its stake in shares of Prologis (NYSE:PLD) by 56.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,256 shares of the real estate investment trust’s stock after purchasing an additional 4,429 shares during the period. Archford Capital Strategies LLC’s holdings in Prologis were worth $791,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Prologis by 28.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 11,938 shares of the real estate investment trust’s stock valued at $758,000 after acquiring an additional 2,649 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Prologis by 1.2% during the third quarter. New York State Common Retirement Fund now owns 1,271,400 shares of the real estate investment trust’s stock valued at $80,683,000 after buying an additional 15,200 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Prologis by 8.6% during the third quarter. Advisor Group Inc. now owns 10,258 shares of the real estate investment trust’s stock valued at $652,000 after buying an additional 815 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Prologis during the third quarter valued at $384,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Prologis by 12.0% during the third quarter. Advisors Asset Management Inc. now owns 67,496 shares of the real estate investment trust’s stock valued at $4,283,000 after buying an additional 7,206 shares during the last quarter. 95.38% of the stock is currently owned by institutional investors and hedge funds.
PLD has been the topic of several recent analyst reports. Zacks Investment Research cut Prologis from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Barclays reaffirmed an “overweight” rating and set a $72.00 price objective on shares of Prologis in a research report on Friday, February 16th. BMO Capital Markets set a $68.00 target price on Prologis and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. KeyCorp reissued a “buy” rating and issued a $72.00 target price on shares of Prologis in a research report on Thursday, December 21st. Finally, JPMorgan Chase cut Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 target price on the stock. in a research report on Friday, December 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $67.94.
In related news, Director William D. Zollars sold 4,020 shares of Prologis stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total transaction of $243,129.60. Following the sale, the director now owns 20,225 shares of the company’s stock, valued at approximately $1,223,208. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael S. Curless sold 14,465 shares of Prologis stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $62.49, for a total value of $903,917.85. Following the sale, the insider now directly owns 102 shares in the company, valued at approximately $6,373.98. The disclosure for this sale can be found here. 1.31% of the stock is owned by company insiders.
Shares of NYSE PLD traded up $0.02 during trading on Thursday, hitting $61.64. The company had a trading volume of 1,842,284 shares, compared to its average volume of 2,581,754. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.51. Prologis has a 12 month low of $53.15 and a 12 month high of $67.53. The company has a market capitalization of $32,836.13, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The firm had revenue of $550.65 million for the quarter, compared to the consensus estimate of $533.54 million. During the same quarter last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. research analysts anticipate that Prologis will post 2.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 3.11%. This is an increase from Prologis’s previous quarterly dividend of $0.44. Prologis’s dividend payout ratio (DPR) is 68.33%.
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Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2017, 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 684 million square feet (64 million square meters) in 19 countries.
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