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.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace LLP bought a new stake in Prologis during the 1st quarter worth about $57,000. Two Sigma Advisers LP acquired a new position in shares of Prologis in the 1st quarter valued at approximately $2,564,000. APG Asset Management N.V. grew its position in shares of Prologis by 24.5% in the 1st quarter. APG Asset Management N.V. now owns 3,674,831 shares of the real estate investment trust’s stock valued at $295,346,000 after purchasing an additional 724,322 shares during the period. Morgan Stanley grew its position in shares of Prologis by 9.1% in the 1st quarter. Morgan Stanley now owns 4,926,488 shares of the real estate investment trust’s stock valued at $395,942,000 after purchasing an additional 411,389 shares during the period. Finally, AXA grew its position in shares of Prologis by 26.1% in the 1st quarter. AXA now owns 1,602,684 shares of the real estate investment trust’s stock valued at $128,808,000 after purchasing an additional 332,143 shares during the period. 94.75% of the stock is owned by institutional investors.
Prologis stock traded down $2.27 during mid-day trading on Monday, reaching $100.97. The stock had a trading volume of 23,142 shares, compared to its average volume of 3,635,494. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.48. Prologis, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $109.11. The stock’s 50-day simple moving average is $101.95 and its 200-day simple moving average is $96.18. The firm has a market capitalization 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 announced its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.48). Prologis had a net margin of 43.27% and a return on equity of 5.55%. The firm had revenue of $984.00 million during the quarter, compared to analyst estimates of $955.32 million. During the same period last year, the business posted $0.97 EPS. The company’s revenue was up 38.2% on a year-over-year basis. On average, research analysts forecast 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 paid a $0.58 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $2.32 dividend on an annualized basis and a yield of 2.30%. Prologis’s dividend payout ratio (DPR) is presently 70.09%.
Several equities analysts recently issued reports on PLD shares. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating and set a $111.00 price objective for the company. in a research report on Thursday, October 8th. Citigroup upped their price target on Prologis from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Jefferies Financial Group upped their price objective on Prologis from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Deutsche Bank Aktiengesellschaft increased their price target on Prologis from $90.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, BMO Capital Markets initiated coverage on Prologis in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $111.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $106.67.
Prologis Company Profile
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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