Prologis Inc (NYSE:PLD) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. decreased its holdings in Prologis Inc (NYSE:PLD) by 5.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 116,090 shares of the real estate investment trust’s stock after selling 6,104 shares during the period. Shell Asset Management Co.’s holdings in Prologis were worth $9,330,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Penserra Capital Management LLC raised its holdings in Prologis by 13.7% in the 4th quarter. Penserra Capital Management LLC now owns 856 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 103 shares during the last quarter. Assetmark Inc. raised its holdings in Prologis by 4.1% in the 4th quarter. Assetmark Inc. now owns 2,868 shares of the real estate investment trust’s stock valued at $256,000 after acquiring an additional 114 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Prologis by 0.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 17,905 shares of the real estate investment trust’s stock valued at $1,596,000 after acquiring an additional 121 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Prologis by 23.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 645 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 122 shares during the last quarter. Finally, MUFG Americas Holdings Corp raised its holdings in Prologis by 1.9% in the 4th quarter. MUFG Americas Holdings Corp now owns 6,675 shares of the real estate investment trust’s stock valued at $595,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

Shares of NYSE:PLD traded up $1.15 during mid-day trading on Friday, reaching $87.55. 1,264,890 shares of the company were exchanged, compared to its average volume of 3,112,515. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $63.81 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 3.38 and a beta of 0.97. The firm’s 50-day simple moving average is $86.26 and its 200 day simple moving average is $87.86. Prologis Inc has a 1 year low of $59.82 and a 1 year high of $99.79.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.11). The company had revenue of $878.81 million for the quarter, compared to analysts’ expectations of $801.54 million. Prologis had a return on equity of 6.00% and a net margin of 48.50%. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 EPS. On average, research analysts forecast that Prologis Inc will post 3.59 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.58 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.32 annualized dividend and a yield of 2.65%. Prologis’s dividend payout ratio is presently 70.09%.

In other Prologis news, Director Jeffrey L. Skelton sold 6,762 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.20, for a total value of $603,170.40. Following the completion of the transaction, the director now owns 54,791 shares of the company’s stock, valued at approximately $4,887,357.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.93% of the company’s stock.

A number of brokerages have recently issued reports on PLD. Morgan Stanley cut their price target on shares of Prologis from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. JPMorgan Chase & Co. cut their price target on shares of Prologis from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. KeyCorp raised their price target on shares of Prologis from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Royal Bank of Canada restated a “buy” rating and set a $102.00 price target on shares of Prologis in a report on Tuesday, February 25th. Finally, Deutsche Bank cut their price target on shares of Prologis from $96.00 to $90.00 and set a “buy” rating for the company in a report on Friday, April 24th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $94.80.

Prologis 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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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