Renaissance Technologies LLC Increases Position in Prologis Inc (PLD)

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Renaissance Technologies LLC boosted its position in shares of Prologis Inc (NYSE:PLD) by 98.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,945,171 shares of the real estate investment trust’s stock after buying an additional 964,500 shares during the quarter. Renaissance Technologies LLC owned 0.36% of Prologis worth $127,778,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PLD. Centersquare Investment Management LLC acquired a new position in shares of Prologis in the 1st quarter valued at $370,841,000. BlackRock Inc. boosted its position in shares of Prologis by 4.9% in the 2nd quarter. BlackRock Inc. now owns 57,370,073 shares of the real estate investment trust’s stock valued at $3,768,639,000 after purchasing an additional 2,674,518 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Prologis by 3,317.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,619,596 shares of the real estate investment trust’s stock valued at $106,391,000 after purchasing an additional 1,572,199 shares during the period. Long Pond Capital LP acquired a new position in shares of Prologis in the 2nd quarter valued at $65,013,000. Finally, Nuveen Asset Management LLC boosted its position in shares of Prologis by 53.0% in the 1st quarter. Nuveen Asset Management LLC now owns 2,329,409 shares of the real estate investment trust’s stock valued at $146,729,000 after purchasing an additional 807,035 shares during the period. 95.15% of the stock is owned by institutional investors and hedge funds.

In other news, Director William D. Zollars sold 4,750 shares of the firm’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $64.06, for a total transaction of $304,285.00. Following the completion of the sale, the director now directly owns 19,510 shares of the company’s stock, valued at approximately $1,249,810.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward S. Nekritz sold 22,213 shares of the firm’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $64.87, for a total value of $1,440,957.31. Following the sale, the insider now directly owns 124,201 shares of the company’s stock, valued at $8,056,918.87. The disclosure for this sale can be found here. Insiders have sold a total of 41,746 shares of company stock valued at $2,689,947 over the last ninety days. Company insiders own 1.31% of the company’s stock.

PLD opened at $67.18 on Friday. Prologis Inc has a fifty-two week low of $58.28 and a fifty-two week high of $68.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $35.86 billion, a PE ratio of 23.91, a PEG ratio of 4.77 and a beta of 0.74.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.71. Prologis had a return on equity of 10.11% and a net margin of 74.17%. The company had revenue of $621.00 million during the quarter, compared to the consensus estimate of $557.43 million. During the same period last year, the business earned $0.84 EPS. The business’s quarterly revenue was down 18.9% on a year-over-year basis. research analysts forecast that Prologis Inc will post 3.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Monday, September 17th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.86%. Prologis’s dividend payout ratio (DPR) is presently 68.33%.

A number of equities analysts recently weighed in on PLD shares. ValuEngine lowered Prologis from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. SunTrust Banks set a $70.00 price objective on Prologis and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Barclays increased their price objective on Prologis from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, August 2nd. Finally, JPMorgan Chase & Co. set a $72.00 price objective on Prologis and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.88.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 685 million square feet (64 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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