Presima Inc. cut its holdings in Prologis Inc (NYSE:PLD) by 7.7% during the third quarter, Holdings Channel.com reports. The fund owned 946,400 shares of the real estate investment trust’s stock after selling 79,500 shares during the period. Prologis comprises about 13.2% of Presima Inc.’s holdings, making the stock its largest holding. Presima Inc.’s holdings in Prologis were worth $80,652,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in PLD. Prestige Wealth Management Group LLC bought a new position in shares of Prologis during the second quarter worth $39,000. Hexavest Inc. bought a new position in shares of Prologis during the second quarter worth $42,000. HM Payson & Co. bought a new position in shares of Prologis during the second quarter worth $43,000. Coastal Investment Advisors Inc. boosted its position in shares of Prologis by 1,772.2% during the second quarter. Coastal Investment Advisors Inc. now owns 674 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 638 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Prologis by 4,300.0% during the second quarter. Meeder Asset Management Inc. now owns 660 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 645 shares in the last quarter. 95.86% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Eugene F. Reilly sold 12,500 shares of Prologis stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $81.72, for a total value of $1,021,500.00. Following the completion of the transaction, the insider now owns 10,685 shares of the company’s stock, valued at approximately $873,178.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.
A number of equities research analysts recently commented on PLD shares. Royal Bank of Canada set a $96.00 price objective on shares of Prologis and gave the stock a “buy” rating in a report on Friday, October 18th. KeyCorp raised their price objective on shares of Prologis from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Evercore ISI set a $80.00 price objective on shares of Prologis and gave the stock a “hold” rating in a report on Monday, August 12th. SunTrust Banks raised their price objective on shares of Prologis from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Wells Fargo & Co raised their price objective on shares of Prologis from $84.00 to $91.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Prologis currently has a consensus rating of “Buy” and a consensus price target of $87.81.
PLD stock traded down $4.97 during midday trading on Monday, hitting $85.89. The company’s stock had a trading volume of 13,956,971 shares, compared to its average volume of 2,329,461. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.27 and a quick ratio of 0.54. Prologis Inc has a twelve month low of $55.21 and a twelve month high of $92.49. The company’s fifty day moving average price is $86.15 and its 200 day moving average price is $80.67. The stock has a market capitalization of $58.18 billion, a P/E ratio of 28.35, a PEG ratio of 4.74 and a beta of 1.01.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.23. Prologis had a net margin of 53.87% and a return on equity of 6.92%. The firm had revenue of $712.00 million for the quarter, compared to analyst estimates of $715.40 million. During the same period in the previous year, the business earned $0.72 EPS. The company’s revenue was up 16.5% compared to the same quarter last year. Equities analysts expect that Prologis Inc will post 3.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 2.47%. Prologis’s payout ratio is currently 69.97%.
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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