ARP Americas LP purchased a new stake in shares of Prologis Inc (NYSE:PLD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,701 shares of the real estate investment trust’s stock, valued at approximately $1,271,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Prologis by 75.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 1,152 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Prologis in the 4th quarter worth approximately $200,000. Segment Wealth Management LLC bought a new position in Prologis in the 3rd quarter worth approximately $213,000. BB&T Securities LLC bought a new position in Prologis in the 3rd quarter worth approximately $213,000. Finally, ClariVest Asset Management LLC raised its position in shares of Prologis by 30,750.0% during the 3rd quarter. ClariVest Asset Management LLC now owns 3,702 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 3,690 shares during the last quarter. Hedge funds and other institutional investors own 95.39% of the company’s stock.
In other news, insider Edward S. Nekritz sold 15,752 shares of the stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $64.51, for a total value of $1,016,161.52. Following the transaction, the insider now owns 146,414 shares of the company’s stock, valued at approximately $9,445,167.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Zollars sold 4,020 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total transaction of $243,129.60. Following the completion of the transaction, the director now directly owns 20,225 shares in the company, valued at approximately $1,223,208. The disclosure for this sale can be found here. In the last three months, insiders sold 70,872 shares of company stock worth $4,646,598. Insiders own 1.31% of the company’s stock.
Several brokerages have commented on PLD. Barclays upped their target price on shares of Prologis from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. KeyCorp restated a “buy” rating and issued a $72.00 price objective on shares of Prologis in a research report on Thursday, December 21st. Cantor Fitzgerald set a $69.00 target price on shares of Prologis and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Jefferies Group restated a “neutral” rating on shares of Prologis in a research note on Wednesday, January 24th. Finally, Robert W. Baird raised their target price on shares of Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $67.56.
Prologis Inc (NYSE PLD) traded up $0.33 during trading hours on Wednesday, hitting $63.22. 1,719,799 shares of the stock traded hands, compared to its average volume of 2,990,000. Prologis Inc has a one year low of $48.80 and a one year high of $67.53. The company has a market capitalization of $33,640.00, a P/E ratio of 20.73, a PEG ratio of 4.78 and a beta of 0.88. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.51.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. Prologis had a net margin of 63.11% and a return on equity of 9.12%. The firm had revenue of $550.65 million for the quarter, compared to analysts’ expectations of $533.54 million. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. equities research analysts predict that Prologis Inc will post 2.91 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 3.04%. This is a positive change from Prologis’s previous quarterly dividend of $0.44. Prologis’s payout ratio is 57.70%.
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Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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