MainStreet Investment Advisors LLC purchased a new stake in Prologis Inc (NYSE:PLD) in the 1st quarter, Holdings Channel reports. The fund purchased 6,039 shares of the real estate investment trust’s stock, valued at approximately $485,000.
Several other institutional investors and hedge funds have also bought and sold shares of PLD. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Prologis by 622.2% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 325 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 280 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in shares of Prologis by 64.3% in the 1st quarter. TCI Wealth Advisors Inc. now owns 340 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 133 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in shares of Prologis in the 1st quarter valued at approximately $27,000. Trust Co. of Vermont raised its holdings in Prologis by 73.8% during the first quarter. Trust Co. of Vermont now owns 372 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 158 shares during the last quarter. Finally, Archer Investment Corp acquired a new position in Prologis during the first quarter worth $30,000. 87.83% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. KeyCorp lifted their price objective on Prologis from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus lifted their price objective on Prologis from $76.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Morgan Stanley reduced their price objective on Prologis from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Royal Bank of Canada reaffirmed a “buy” rating and set a $102.00 price objective on shares of Prologis in a report on Tuesday, February 25th. Finally, Deutsche Bank reduced their price objective on Prologis from $96.00 to $90.00 and set a “buy” rating for the company in a report on Friday, April 24th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Prologis presently has a consensus rating of “Buy” and an average price target of $94.80.
Shares of NYSE PLD traded up $1.15 during trading on Friday, reaching $87.55. The company had a trading volume of 1,264,890 shares, compared to its average volume of 3,112,515. Prologis Inc has a twelve month low of $59.82 and a twelve month high of $99.79. The stock has a market capitalization of $63.81 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 3.38 and a beta of 0.97. The stock has a 50-day moving average price of $86.26 and a two-hundred day moving average price of $87.86. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.43.
Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.11). The business had revenue of $878.81 million during the quarter, compared to analysts’ expectations of $801.54 million. Prologis had a net margin of 48.50% and a return on equity of 6.00%. Prologis’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. On average, sell-side analysts predict that Prologis Inc will post 3.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, June 15th. Prologis’s dividend payout ratio is currently 70.09%.
In other news, Director Lydia H. Kennard sold 6,762 shares of Prologis stock in a transaction on Monday, April 27th. The stock was sold at an average price of $91.00, for a total value of $615,342.00. Following the completion of the sale, the director now owns 43,024 shares of the company’s stock, valued at $3,915,184. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.93% of the stock is owned by 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.
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