California Public Employees Retirement System decreased its stake in Prologis Inc (NYSE:PLD) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,204,121 shares of the real estate investment trust’s stock after selling 71,300 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Prologis worth $75,848,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC purchased a new stake in shares of Prologis in the first quarter worth about $142,000. Virtue Capital Management LLC purchased a new stake in shares of Prologis in the fourth quarter worth about $143,000. Parallel Advisors LLC boosted its position in shares of Prologis by 66.3% in the fourth quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 1,000 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Prologis by 75.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 1,152 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Prologis by 50.7% in the first quarter. IFP Advisors Inc now owns 2,809 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 945 shares during the last quarter. 94.26% of the stock is owned by institutional investors.
In other news, Director J Michael Losh sold 3,618 shares of the stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $65.38, for a total transaction of $236,544.84. Following the sale, the director now directly owns 24,957 shares in the company, valued at approximately $1,631,688.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael S. Curless sold 14,568 shares of the stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $66.07, for a total value of $962,507.76. The disclosure for this sale can be found here. Insiders have sold a total of 36,371 shares of company stock worth $2,346,363 over the last quarter. Insiders own 1.32% of the company’s stock.
Prologis opened at $64.42 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.66 and a current ratio of 0.66. Prologis Inc has a 52 week low of $56.59 and a 52 week high of $67.53. The company has a market cap of $34.92 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 4.41 and a beta of 0.82.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, April 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.33. The business had revenue of $555.90 million for the quarter, compared to analysts’ expectations of $552.42 million. Prologis had a return on equity of 9.86% and a net margin of 67.65%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. research analysts forecast that Prologis Inc will post 3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, June 14th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, June 13th. Prologis’s payout ratio is 68.33%.
A number of brokerages recently commented on PLD. BMO Capital Markets reissued a “buy” rating on shares of Prologis in a report on Friday, May 18th. ValuEngine downgraded Prologis from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Tuesday, May 15th. Citigroup reissued a “buy” rating on shares of Prologis in a report on Monday, April 30th. Finally, Royal Bank of Canada set a $71.00 price target on Prologis and gave the company a “buy” rating in a report on Wednesday, April 25th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $69.00.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2018, 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 683 million square feet (63 million square meters) in 19 countries.
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