WEALTHFRONT Corp Takes Position in Prologis Inc (PLD)

WEALTHFRONT Corp acquired a new stake in Prologis Inc (NYSE:PLD) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,623 shares of the real estate investment trust’s stock, valued at approximately $720,000.

Other hedge funds also recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its stake in shares of Prologis by 17.4% in the 3rd quarter. Retirement Systems of Alabama now owns 626,508 shares of the real estate investment trust’s stock valued at $42,471,000 after purchasing an additional 92,821 shares during the period. CIBC Asset Management Inc grew its stake in shares of Prologis by 5.2% in the 2nd quarter. CIBC Asset Management Inc now owns 54,077 shares of the real estate investment trust’s stock valued at $3,552,000 after purchasing an additional 2,690 shares during the period. Cbre Clarion Securities LLC grew its stake in shares of Prologis by 2.7% in the 2nd quarter. Cbre Clarion Securities LLC now owns 7,919,441 shares of the real estate investment trust’s stock valued at $520,228,000 after purchasing an additional 210,819 shares during the period. Bank of America Corp DE grew its stake in shares of Prologis by 7.1% in the 2nd quarter. Bank of America Corp DE now owns 6,028,563 shares of the real estate investment trust’s stock valued at $396,017,000 after purchasing an additional 400,104 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in shares of Prologis by 48.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,507 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 821 shares during the period. Institutional investors own 94.94% of the company’s stock.

In other Prologis news, insider Edward S. Nekritz sold 18,099 shares of the company’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $67.66, for a total transaction of $1,224,578.34. Following the transaction, the insider now owns 106,102 shares of the company’s stock, valued at approximately $7,178,861.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Philip L. Hawkins sold 15,000 shares of the company’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $67.23, for a total value of $1,008,450.00. Following the transaction, the director now directly owns 69,511 shares in the company, valued at approximately $4,673,224.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,907 shares of company stock worth $3,565,328. 1.31% of the stock is owned by corporate insiders.

NYSE PLD opened at $66.84 on Friday. The company has a market cap of $43.11 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 4.51 and a beta of 0.75. Prologis Inc has a one year low of $58.28 and a one year high of $68.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.32 and a current ratio of 0.32.

Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. The business had revenue of $611.00 million for the quarter, compared to analyst estimates of $582.23 million. Prologis had a return on equity of 6.65% and a net margin of 51.66%. Prologis’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 EPS. Analysts forecast that Prologis Inc will post 3.02 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Tuesday, December 18th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, December 17th. This represents a $1.92 dividend on an annualized basis and a yield of 2.87%. Prologis’s dividend payout ratio (DPR) is presently 68.33%.

Several research firms have recently weighed in on PLD. ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. BMO Capital Markets reiterated a “buy” rating and issued a $70.00 price objective on shares of Prologis in a research note on Tuesday, October 16th. Scotiabank assumed coverage on Prologis in a research report on Tuesday, October 16th. They set a “sector perform” rating on the stock. Finally, Barclays restated a “buy” rating and set a $70.00 price target on shares of Prologis in a research report on Sunday, October 14th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $71.93.

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About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 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 771 million square feet (72 million square meters) in 19 countries.

Read More: Return on Equity (ROE)

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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