Prologis Inc (NYSE:PLD) Director Sells $708,480.00 in Stock

Prologis Inc (NYSE:PLD) Director Philip L. Hawkins sold 9,000 shares of Prologis stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $78.72, for a total value of $708,480.00. Following the sale, the director now directly owns 35,511 shares of the company’s stock, valued at $2,795,425.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Prologis stock traded down $0.02 during mid-day trading on Wednesday, reaching $78.81. 1,847,495 shares of the company were exchanged, compared to its average volume of 2,377,049. Prologis Inc has a 12 month low of $55.21 and a 12 month high of $79.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $49.59 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 4.35 and a beta of 1.00.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, April 16th. The real estate investment trust reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The firm had revenue of $696.80 million for the quarter, compared to analyst estimates of $687.21 million. During the same quarter last year, the company earned $0.80 EPS. The company’s revenue was up 25.3% on a year-over-year basis. Sell-side analysts expect that Prologis Inc will post 3.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be paid a $0.53 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $2.12 annualized dividend and a dividend yield of 2.69%. Prologis’s payout ratio is 69.97%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc increased its stake in shares of Prologis by 17.4% in the 3rd quarter. Vanguard Group Inc now owns 81,760,597 shares of the real estate investment trust’s stock valued at $5,542,552,000 after purchasing an additional 12,095,509 shares during the last quarter. BlackRock Inc. increased its stake in shares of Prologis by 2.0% in the 4th quarter. BlackRock Inc. now owns 66,632,462 shares of the real estate investment trust’s stock valued at $3,912,659,000 after purchasing an additional 1,302,676 shares during the last quarter. Cohen & Steers Inc. increased its stake in shares of Prologis by 1.0% in the 4th quarter. Cohen & Steers Inc. now owns 22,757,529 shares of the real estate investment trust’s stock valued at $1,336,322,000 after purchasing an additional 229,520 shares during the last quarter. FMR LLC increased its stake in shares of Prologis by 3.9% in the 1st quarter. FMR LLC now owns 20,743,807 shares of the real estate investment trust’s stock valued at $1,492,516,000 after purchasing an additional 769,477 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Prologis by 8.1% in the 1st quarter. Principal Financial Group Inc. now owns 13,569,700 shares of the real estate investment trust’s stock valued at $976,340,000 after purchasing an additional 1,021,517 shares during the last quarter. Institutional investors own 95.46% of the company’s stock.

Several research firms recently weighed in on PLD. Barclays reissued a “buy” rating on shares of Prologis in a report on Thursday, February 21st. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Friday, April 26th. BMO Capital Markets restated a “buy” rating and set a $70.00 price objective on shares of Prologis in a research note on Sunday, April 21st. Citigroup set a $86.00 price objective on Prologis and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Morgan Stanley raised their price objective on Prologis from $75.00 to $78.50 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Prologis has an average rating of “Buy” and an average price target of $74.46.

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About Prologis

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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Insider Buying and Selling by Quarter for Prologis (NYSE:PLD)

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