Strs Ohio lowered its stake in Prologis Inc (NYSE:PLD) by 18.4% during the third quarter, Holdings Channel.com reports. The firm owned 1,050,282 shares of the real estate investment trust’s stock after selling 236,115 shares during the quarter. Strs Ohio’s holdings in Prologis were worth $89,505,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Avitas Wealth Management LLC increased its holdings in shares of Prologis by 1.6% in the 3rd quarter. Avitas Wealth Management LLC now owns 40,284 shares of the real estate investment trust’s stock valued at $3,433,000 after acquiring an additional 634 shares during the last quarter. Bailard Inc. grew its stake in Prologis by 1.1% during the 3rd quarter. Bailard Inc. now owns 58,996 shares of the real estate investment trust’s stock worth $5,028,000 after buying an additional 644 shares during the last quarter. Supplemental Annuity Collective Trust of NJ purchased a new position in Prologis during the 3rd quarter worth approximately $477,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Prologis by 1.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 340,798 shares of the real estate investment trust’s stock worth $29,043,000 after buying an additional 5,493 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in Prologis by 27.9% during the 3rd quarter. Park Avenue Securities LLC now owns 7,094 shares of the real estate investment trust’s stock worth $605,000 after buying an additional 1,547 shares during the last quarter. 95.86% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on PLD shares. Deutsche Bank raised their price target on Prologis from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp raised their price target on Prologis from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Stifel Nicolaus set a $95.00 price target on Prologis and gave the stock a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets restated a “buy” rating and set a $85.00 price target on shares of Prologis in a research note on Wednesday, July 17th. Finally, ValuEngine downgraded Prologis from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $86.65.
Shares of PLD stock traded up $0.56 during midday trading on Monday, hitting $90.17. The company had a trading volume of 209,304 shares, compared to its average volume of 1,990,331. The company’s 50 day simple moving average is $85.21 and its 200 day simple moving average is $80.04. Prologis Inc has a 52-week low of $55.21 and a 52-week high of $89.91. The stock has a market cap of $56.27 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 4.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.50 and a quick ratio of 0.54.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.23. Prologis had a return on equity of 6.92% and a net margin of 53.87%. The company had revenue of $712.00 million for the quarter, compared to the consensus estimate of $715.40 million. During the same period last year, the business posted $0.72 EPS. The company’s revenue was up 16.5% on a year-over-year basis. Analysts anticipate that Prologis Inc will post 3.31 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 2.35%. Prologis’s dividend payout ratio is currently 69.97%.
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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