Xact Kapitalforvaltning AB raised its stake in shares of Prologis Inc (NYSE:PLD) by 4.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 191,823 shares of the real estate investment trust’s stock after purchasing an additional 8,549 shares during the period. Xact Kapitalforvaltning AB’s holdings in Prologis were worth $13,004,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Kistler Tiffany Companies LLC acquired a new position in Prologis during the 3rd quarter valued at about $160,000. Huntington National Bank boosted its stake in Prologis by 1,252.3% during the 3rd quarter. Huntington National Bank now owns 214,593 shares of the real estate investment trust’s stock valued at $14,548,000 after purchasing an additional 198,724 shares during the last quarter. Oakbrook Investments LLC boosted its stake in Prologis by 18.4% during the 3rd quarter. Oakbrook Investments LLC now owns 20,300 shares of the real estate investment trust’s stock valued at $1,376,000 after purchasing an additional 3,158 shares during the last quarter. Aperio Group LLC boosted its stake in Prologis by 5.9% during the 3rd quarter. Aperio Group LLC now owns 429,442 shares of the real estate investment trust’s stock valued at $29,112,000 after purchasing an additional 23,781 shares during the last quarter. Finally, Foundry Partners LLC boosted its stake in Prologis by 18.8% during the 3rd quarter. Foundry Partners LLC now owns 124,555 shares of the real estate investment trust’s stock valued at $8,444,000 after purchasing an additional 19,675 shares during the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.
In related news, insider Edward S. Nekritz sold 18,099 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $67.66, for a total value of $1,224,578.34. Following the transaction, the insider now owns 106,102 shares in the company, valued at $7,178,861.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William D. Zollars sold 8,020 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $62.45, for a total value of $500,849.00. Following the completion of the transaction, the director now owns 11,490 shares in the company, valued at approximately $717,550.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,690 shares of company stock worth $3,501,582. 1.31% of the stock is owned by company insiders.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Prologis had a return on equity of 6.64% and a net margin of 51.66%. The firm had revenue of $611.00 million for the quarter, compared to the consensus estimate of $582.23 million. During the same quarter in the previous year, the business earned $1.63 EPS. The company’s revenue was up 14.2% compared to the same quarter last year. As a group, research analysts expect that Prologis Inc will post 3.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Monday, September 17th were paid a $0.48 dividend. The ex-dividend date was Friday, September 14th. This represents a $1.92 annualized dividend and a yield of 3.03%. Prologis’s payout ratio is 68.33%.
A number of research firms have issued reports on PLD. BMO Capital Markets reiterated a “buy” rating and set a $70.00 price target on shares of Prologis in a research note on Tuesday. Scotiabank began coverage on Prologis in a research note on Tuesday. They set a “sector perform” rating for the company. Barclays reiterated a “buy” rating and set a $70.00 price target on shares of Prologis in a research note on Sunday, October 14th. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Finally, Bank of America boosted their target price on Prologis from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Prologis currently has an average rating of “Buy” and an average target price of $71.47.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 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 685 million square feet (64 million square meters) in 19 countries.
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