Highbridge Capital Management LLC raised its holdings in Prologis Inc (NYSE:PLD) by 34.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,900 shares of the real estate investment trust’s stock after buying an additional 51,900 shares during the period. Highbridge Capital Management LLC’s holdings in Prologis were worth $12,749,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. Creative Planning increased its position in shares of Prologis by 3.4% during the second quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 69 shares in the last quarter. Evercore Wealth Management LLC increased its position in shares of Prologis by 18.2% during the second quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 350 shares in the last quarter. IFP Advisors Inc increased its position in shares of Prologis by 40.7% during the second quarter. IFP Advisors Inc now owns 3,164 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 915 shares in the last quarter. ETF Managers Group LLC acquired a new stake in shares of Prologis during the second quarter worth about $193,000. Finally, Lincoln National Corp acquired a new stake in shares of Prologis during the second quarter worth about $205,000. Institutional investors and hedge funds own 95.57% of the company’s stock.
In related news, CEO Eugene F. Reilly sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $66.61, for a total transaction of $999,150.00. Following the transaction, the chief executive officer now owns 63,365 shares of the company’s stock, valued at $4,220,742.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eugene F. Reilly sold 18,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $66.55, for a total value of $1,197,900.00. Following the transaction, the chief executive officer now directly owns 63,365 shares in the company, valued at approximately $4,216,940.75. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.
A number of research firms have recently commented on PLD. Jefferies Group reiterated a “hold” rating and set a $66.00 target price (up previously from $59.00) on shares of Prologis in a research report on Thursday, August 24th. BidaskClub upgraded Prologis from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. BTIG Research reiterated a “buy” rating and set a $68.00 target price (up previously from $62.00) on shares of Prologis in a research report on Wednesday, September 27th. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Monday, September 25th. Finally, SunTrust Banks reiterated a “buy” rating and set a $68.00 target price on shares of Prologis in a research report on Thursday, October 12th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $66.31.
Prologis Inc (NYSE PLD) traded up $0.34 during midday trading on Monday, hitting $66.16. The company had a trading volume of 1,518,800 shares, compared to its average volume of 2,395,203. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.80 and a current ratio of 0.80. Prologis Inc has a 52-week low of $48.33 and a 52-week high of $67.53. The stock has a market capitalization of $35,202.55, a price-to-earnings ratio of 23.88, a P/E/G ratio of 4.36 and a beta of 0.91.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.67. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The firm had revenue of $531.18 million for the quarter, compared to analyst estimates of $573.68 million. During the same quarter last year, the company posted $0.14 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. equities analysts forecast that Prologis Inc will post 2.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 18th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, December 15th. Prologis’s dividend payout ratio is currently 52.85%.
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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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