Ritholtz Wealth Management acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,626 shares of the real estate investment trust’s stock, valued at approximately $264,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Glassman Wealth Services grew its position in shares of Prologis by 92.7% during the 2nd quarter. Glassman Wealth Services now owns 264 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 127 shares during the period. Knuff & Co LLC grew its position in shares of Prologis by 191.3% in the 2nd quarter. Knuff & Co LLC now owns 300 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 197 shares during the period. Hoey Investments Inc. grew its position in shares of Prologis by 62.5% in the 2nd quarter. Hoey Investments Inc. now owns 325 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 125 shares during the period. Tarbox Family Office Inc. grew its position in shares of Prologis by 159.8% in the 2nd quarter. Tarbox Family Office Inc. now owns 343 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 211 shares during the period. Finally, Costello Asset Management INC acquired a new position in shares of Prologis in the 2nd quarter valued at approximately $36,000. 94.75% of the stock is owned by institutional investors and hedge funds.
PLD traded down $2.27 during trading hours on Monday, reaching $100.97. The company’s stock had a trading volume of 23,142 shares, compared to its average volume of 3,635,494. Prologis, Inc. has a 52 week low of $59.82 and a 52 week high of $109.11. The company’s 50-day moving average is $101.95 and its 200-day moving average is $96.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $76.27 billion, a PE ratio of 45.88, a price-to-earnings-growth ratio of 3.60 and a beta of 0.90.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 20th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.48). Prologis had a net margin of 43.27% and a return on equity of 5.55%. The business had revenue of $984.00 million during the quarter, compared to the consensus estimate of $955.32 million. During the same quarter last year, the company posted $0.97 EPS. The firm’s revenue was up 38.2% on a year-over-year basis. Equities analysts anticipate that Prologis, Inc. will post 3.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 17th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Wednesday, September 16th. Prologis’s payout ratio is 70.09%.
Several equities analysts recently issued reports on PLD shares. Goldman Sachs Group started coverage on Prologis in a research report on Tuesday, September 29th. They issued a “buy” rating for the company. Morgan Stanley boosted their price objective on Prologis from $91.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Wells Fargo & Company upped their price target on Prologis from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Royal Bank of Canada upped their price target on Prologis from $102.00 to $108.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Finally, BMO Capital Markets initiated coverage on Prologis in a research report on Wednesday, July 22nd. They set a “buy” rating and a $111.00 price target for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $106.67.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high growth markets. As of March 31, 2020, 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 965 million square feet (90 million square meters) in 19 countries.
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