NN Investment Partners Holdings N.V. lessened its stake in Prologis Inc (NYSE:PLD) by 1.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 718,901 shares of the real estate investment trust’s stock after selling 9,672 shares during the quarter. NN Investment Partners Holdings N.V. owned about 0.11% of Prologis worth $57,585,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Berman Capital Advisors LLC grew its stake in Prologis by 105.3% in the first quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 199 shares during the period. Thor Advisors LLC acquired a new position in shares of Prologis during the first quarter worth about $37,000. Hexavest Inc. acquired a new position in shares of Prologis during the second quarter worth about $42,000. Rational Advisors LLC boosted its position in shares of Prologis by 61.8% during the first quarter. Rational Advisors LLC now owns 618 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 236 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Prologis during the first quarter worth about $57,000. Institutional investors and hedge funds own 95.43% of the company’s stock.
PLD has been the subject of several recent research reports. Goldman Sachs Group initiated coverage on Liberty Property Trust in a research report on Wednesday, May 15th. They set a “neutral” rating and a $49.00 price objective for the company. Zacks Investment Research cut G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Morgan Stanley cut Meili from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $14.00 to $4.20 in a research report on Monday, June 3rd. Citigroup set a $86.00 price objective on Prologis and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, BMO Capital Markets reduced their price objective on Wells Fargo & Co to $59.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Prologis currently has an average rating of “Buy” and a consensus target price of $76.58.
PLD traded up $1.16 on Tuesday, hitting $82.34. 1,449,144 shares of the company were exchanged, compared to its average volume of 2,174,006. Prologis Inc has a 12 month low of $55.21 and a 12 month high of $83.99. The company has a market cap of $50.93 billion, a P/E ratio of 27.17, a PEG ratio of 4.50 and a beta of 1.03. The company has a current ratio of 0.20, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average price of $80.28.
Prologis (NYSE:PLD) last released its quarterly earnings data on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.16). The business had revenue of $700.69 million during the quarter, compared to the consensus estimate of $704.19 million. Prologis had a net margin of 55.04% and a return on equity of 6.55%. Prologis’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. On average, equities research analysts predict that Prologis Inc will post 3.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were paid a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.12 annualized dividend and a yield of 2.57%. Prologis’s dividend payout ratio is 69.97%.
In other news, Director Philip L. Hawkins sold 9,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $78.72, for a total transaction of $708,480.00. Following the transaction, the director now owns 35,511 shares in the company, valued at $2,795,425.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward S. Nekritz sold 30,671 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total value of $2,300,631.71. Following the transaction, the insider now owns 21,121 shares in the company, valued at approximately $1,584,286.21. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 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 768 million square feet (71 million square meters) in 19 countries.
Featured Story: What is a resistance level?
Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.