Vanguard Group Inc. lowered its stake in shares of Prologis Inc (NYSE:PLD) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,300,487 shares of the real estate investment trust’s stock after selling 1,912,100 shares during the quarter. Vanguard Group Inc. owned approximately 13.04% of Prologis worth $8,987,724,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in Prologis during the 1st quarter worth $57,000. Lincoln National Corp lifted its holdings in shares of Prologis by 9.4% in the 1st quarter. Lincoln National Corp now owns 6,557 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 561 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Prologis by 129.5% in the 1st quarter. Bessemer Group Inc. now owns 5,311 shares of the real estate investment trust’s stock valued at $427,000 after purchasing an additional 2,997 shares during the period. Avantax Advisory Services Inc. purchased a new position in Prologis during the 1st quarter worth approximately $267,000. Finally, UBS Group AG increased its position in Prologis by 8.3% during the first quarter. UBS Group AG now owns 1,542,805 shares of the real estate investment trust’s stock worth $123,995,000 after buying an additional 118,142 shares during the period. Institutional investors and hedge funds own 94.75% of the company’s stock.
A number of equities analysts have recently commented on the stock. Wells Fargo & Co lifted their target price on shares of Prologis from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Deutsche Bank lifted their price objective on shares of Prologis from $90.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Royal Bank of Canada raised their price target on Prologis from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. BMO Capital Markets began coverage on Prologis in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $111.00 target price on the stock. Finally, Citigroup upped their price target on Prologis from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $103.13.
Shares of PLD stock traded down $0.85 during midday trading on Friday, reaching $100.76. 2,042,760 shares of the company traded hands, compared to its average volume of 2,363,134. The firm’s 50 day simple moving average is $101.98 and its two-hundred day simple moving average is $91.28. The firm has a market cap of $74.44 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 3.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.48 and a quick ratio of 0.48. Prologis Inc has a 1-year low of $59.82 and a 1-year high of $106.73.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.08. The firm had revenue of $945.00 million during the quarter, compared to analysts’ expectations of $921.45 million. Prologis had a return on equity of 5.55% and a net margin of 43.27%. Prologis’s revenue was up 34.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 earnings per share. As a group, research analysts anticipate that Prologis Inc will post 3.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 17th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.30%. Prologis’s dividend payout ratio is presently 70.09%.
In other Prologis news, Director George L. Fotiades sold 1,339 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $96.38, for a total transaction of $129,052.82. Following the completion of the transaction, the director now directly owns 22,710 shares in the company, valued at approximately $2,188,789.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.
Prologis Company Profile
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.
Recommended Story: Forex
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.