Profund Advisors LLC boosted its stake in shares of Prologis Inc (NYSE:PLD) by 20.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,645 shares of the real estate investment trust’s stock after buying an additional 8,627 shares during the quarter. Profund Advisors LLC’s holdings in Prologis were worth $4,057,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Berman Capital Advisors LLC increased its position in Prologis by 105.3% during the 1st quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 199 shares during the period. Thor Advisors LLC purchased a new position in Prologis during the 1st quarter valued at about $37,000. Hexavest Inc. purchased a new position in Prologis during the 2nd quarter valued at about $42,000. Rational Advisors LLC increased its position in Prologis by 61.8% during the 1st quarter. Rational Advisors LLC now owns 618 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 236 shares during the period. Finally, Meeder Asset Management Inc. increased its position in Prologis by 4,300.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 660 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 645 shares during the period. Institutional investors own 97.08% of the company’s stock.
NYSE PLD traded up $0.07 on Friday, hitting $84.11. 95,311 shares of the company’s stock traded hands, compared to its average volume of 1,967,950. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.43. Prologis Inc has a 1-year low of $55.21 and a 1-year high of $85.76. The firm’s 50-day moving average price is $82.41 and its two-hundred day moving average price is $77.40. The firm has a market capitalization of $52.55 billion, a PE ratio of 27.84, a P/E/G ratio of 4.48 and a beta of 1.03.
Prologis (NYSE:PLD) last posted its earnings results 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). Prologis had a net margin of 55.04% and a return on equity of 6.55%. The firm had revenue of $700.69 million during the quarter, compared to analyst estimates of $704.19 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, research analysts anticipate that Prologis Inc will post 3.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Thursday, September 19th. Prologis’s dividend payout ratio is currently 69.97%.
In related news, CFO Thomas S. Olinger sold 13,051 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total value of $1,073,444.75. Following the completion of the transaction, the chief financial officer now directly owns 20,667 shares in the company, valued at approximately $1,699,860.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eugene F. Reilly sold 12,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the completion of the transaction, the insider now owns 10,685 shares of the company’s stock, valued at $873,178.20. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Deutsche Bank lifted their price objective on shares of Prologis from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. SunTrust Banks lifted their price objective on shares of Prologis from $81.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Morgan Stanley lifted their price objective on shares of Prologis from $75.00 to $78.50 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Finally, BMO Capital Markets restated a “buy” rating and set a $85.00 price objective on shares of Prologis in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $79.68.
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.
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