Martingale Asset Management L P increased its holdings in Prologis Inc (NYSE:PLD) by 36.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 479,869 shares of the real estate investment trust’s stock after acquiring an additional 128,912 shares during the quarter. Martingale Asset Management L P owned approximately 0.09% of Prologis worth $30,957,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its position in shares of Prologis by 7.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,289 shares of the real estate investment trust’s stock valued at $545,000 after buying an additional 626 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Prologis by 8.6% during the third quarter. Advisor Group Inc. now owns 10,258 shares of the real estate investment trust’s stock valued at $652,000 after buying an additional 815 shares during the last quarter. Advisor Partners LLC lifted its position in shares of Prologis by 10.9% during the third quarter. Advisor Partners LLC now owns 8,325 shares of the real estate investment trust’s stock valued at $528,000 after buying an additional 819 shares during the last quarter. Global X MANAGEMENT CO LLC lifted its position in shares of Prologis by 11.9% during the third quarter. Global X MANAGEMENT CO LLC now owns 7,922 shares of the real estate investment trust’s stock valued at $503,000 after buying an additional 843 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Prologis by 2.3% during the third quarter. Oppenheimer & Co. Inc. now owns 39,133 shares of the real estate investment trust’s stock valued at $2,483,000 after buying an additional 870 shares during the last quarter. 93.45% of the stock is owned by institutional investors and hedge funds.
In other news, insider Lori A. Palazzolo sold 4,900 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $65.89, for a total transaction of $322,861.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Edward S. Nekritz sold 15,752 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $1,016,161.52. Following the completion of the transaction, the insider now owns 146,414 shares in the company, valued at approximately $9,445,167.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,872 shares of company stock worth $6,843,648. Corporate insiders own 1.31% of the company’s stock.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Prologis had a net margin of 63.11% and a return on equity of 9.12%. The firm had revenue of $550.65 million for the quarter, compared to the consensus estimate of $533.54 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. sell-side analysts forecast that Prologis Inc will post 2.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.20%. This is an increase from Prologis’s previous quarterly dividend of $0.44. Prologis’s dividend payout ratio is 57.52%.
Several research firms have commented on PLD. Evercore ISI raised shares of Prologis from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. JPMorgan Chase & Co. lowered shares of Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 price target for the company. in a research report on Friday, December 15th. Jefferies Group reissued a “neutral” rating on shares of Prologis in a research report on Wednesday, January 24th. Robert W. Baird increased their price target on shares of Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Wells Fargo & Co set a $65.00 price target on shares of Prologis and gave the company a “hold” rating in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $67.56.
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Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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