QS Investors LLC reduced its position in Prologis Inc (NYSE:PLD) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 133,367 shares of the real estate investment trust’s stock after selling 1,304 shares during the period. QS Investors LLC’s holdings in Prologis were worth $8,604,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtue Capital Management LLC bought a new position in shares of Prologis in the fourth quarter valued at approximately $143,000. Parallel Advisors LLC lifted its stake in Prologis by 66.3% during the fourth quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 1,000 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Prologis by 75.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 1,152 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Prologis during the fourth quarter valued at approximately $200,000. Finally, BB&T Securities LLC acquired a new stake in Prologis during the third quarter valued at approximately $213,000. 95.38% of the stock is owned by institutional investors.
In related news, insider Edward S. Nekritz sold 15,752 shares of Prologis stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $64.51, for a total value of $1,016,161.52. Following the completion of the sale, the insider now owns 146,414 shares of the company’s stock, valued at approximately $9,445,167.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William D. Zollars sold 4,020 shares of Prologis stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total value of $243,129.60. Following the completion of the sale, the director now directly owns 20,225 shares of the company’s stock, valued at approximately $1,223,208. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $550.65 million during the quarter, compared to analysts’ expectations of $533.54 million. Prologis had a net margin of 63.11% and a return on equity of 9.12%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. equities research analysts anticipate that Prologis Inc will post 2.91 earnings per share for the current fiscal 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 given a dividend of $0.48 per share. This is an increase from Prologis’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 3.03%. Prologis’s dividend payout ratio (DPR) is 62.75%.
PLD has been the subject of several research analyst reports. Evercore ISI upgraded shares of Prologis from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Robert W. Baird increased their price target on shares of Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Barclays raised their target price on shares of Prologis from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. JPMorgan Chase & Co. lowered shares of Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 price target on the stock. in a research report on Friday, December 15th. Finally, Zacks Investment Research downgraded shares of Prologis from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Prologis has a consensus rating of “Buy” and a consensus target price of $67.56.
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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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