Private Capital Group LLC boosted its stake in Prologis Inc (NYSE:PLD) by 433.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,984 shares of the real estate investment trust’s stock after purchasing an additional 2,425 shares during the period. Private Capital Group LLC’s holdings in Prologis were worth $188,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in Prologis by 8.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,652,177 shares of the real estate investment trust’s stock worth $558,151,000 after purchasing an additional 638,453 shares during the period. Deutsche Bank AG increased its stake in Prologis by 77.4% in the 4th quarter. Deutsche Bank AG now owns 6,099,545 shares of the real estate investment trust’s stock worth $393,473,000 after purchasing an additional 2,661,525 shares during the period. Russell Investments Group Ltd. increased its stake in Prologis by 16.2% in the 1st quarter. Russell Investments Group Ltd. now owns 2,137,349 shares of the real estate investment trust’s stock worth $134,402,000 after purchasing an additional 297,716 shares during the period. Slow Capital Inc. purchased a new position in Prologis in the 4th quarter worth approximately $1,247,000. Finally, Swedbank increased its stake in Prologis by 32.4% in the 4th quarter. Swedbank now owns 2,699,585 shares of the real estate investment trust’s stock worth $174,150,000 after purchasing an additional 660,022 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.
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Prologis opened at $63.95 on Friday, according to MarketBeat Ratings. 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 twelve month low of $56.59 and a twelve month high of $67.53. The company has a market cap of $34.19 billion, a P/E ratio of 22.76, a PEG ratio of 4.32 and a beta of 0.82.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, April 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.33. Prologis had a return on equity of 9.86% and a net margin of 67.65%. The company had revenue of $555.90 million for the quarter, compared to analyst estimates of $552.42 million. During the same period in the previous year, the company posted $0.63 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. research analysts predict that Prologis Inc will post 3 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, June 14th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, June 13th. This represents a $1.92 annualized dividend and a dividend yield of 3.00%. Prologis’s dividend payout ratio is presently 68.33%.
In other Prologis news, Director William D. Zollars sold 4,750 shares of the business’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $64.06, for a total value of $304,285.00. Following the sale, the director now directly owns 19,510 shares of the company’s stock, valued at $1,249,810.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Michael Losh sold 3,618 shares of the business’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $65.38, for a total value of $236,544.84. Following the completion of the sale, the director now directly owns 24,957 shares in the company, valued at $1,631,688.66. The disclosure for this sale can be found here. Insiders have sold 41,121 shares of company stock worth $2,650,648 over the last 90 days. 1.31% of the stock is currently owned by corporate insiders.
A number of equities analysts have commented on the company. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets reaffirmed a “buy” rating on shares of Prologis in a research note on Friday, May 18th. Citigroup reaffirmed a “buy” rating on shares of Prologis in a research note on Monday, April 30th. ValuEngine cut Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. Finally, Royal Bank of Canada set a $71.00 target price on Prologis and gave the company a “buy” rating in a research note on Wednesday, April 25th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $68.94.
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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