QS Investors LLC lowered its stake in shares of Prologis Inc (NYSE:PLD) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,367 shares of the real estate investment trust’s stock after selling 1,304 shares during the quarter. QS Investors LLC’s holdings in Prologis were worth $8,604,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of PLD. BlackRock Inc. boosted its holdings in Prologis by 0.8% in the 4th quarter. BlackRock Inc. now owns 53,388,532 shares of the real estate investment trust’s stock worth $3,444,094,000 after acquiring an additional 430,576 shares during the period. JPMorgan Chase & Co. boosted its holdings in Prologis by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,786,598 shares of the real estate investment trust’s stock worth $749,039,000 after acquiring an additional 463,559 shares during the period. Bank of New York Mellon Corp boosted its holdings in Prologis by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 11,150,415 shares of the real estate investment trust’s stock worth $719,315,000 after acquiring an additional 42,435 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Prologis by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,505,224 shares of the real estate investment trust’s stock worth $476,282,000 after acquiring an additional 137,807 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Prologis by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 6,849,783 shares of the real estate investment trust’s stock worth $441,114,000 after acquiring an additional 280,857 shares during the period. 95.39% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on PLD shares. Zacks Investment Research cut Prologis from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Barclays reiterated an “overweight” rating and set a $72.00 target price on shares of Prologis in a research note on Friday, February 16th. KeyCorp reiterated a “buy” rating and set a $72.00 target price on shares of Prologis in a research note on Thursday, December 21st. Finally, BMO Capital Markets set a $68.00 target price on Prologis and gave the company a “buy” rating in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.56.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The firm had revenue of $550.65 million for the quarter, compared to analyst estimates of $533.54 million. During the same period last year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. equities analysts anticipate that Prologis Inc will post 2.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This is a positive change from Prologis’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 3.01%. Prologis’s dividend payout ratio (DPR) is currently 57.52%.
In other Prologis news, CFO Thomas S. Olinger sold 46,200 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $66.33, for a total value of $3,064,446.00. Following the sale, the chief financial officer now directly owns 36,325 shares of the company’s stock, valued at $2,409,437.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lori A. Palazzolo sold 4,900 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $65.89, for a total value of $322,861.00. The disclosure for this sale can be found here. Insiders sold 70,872 shares of company stock worth $4,646,598 over the last ninety days. 1.31% of the stock is owned by corporate insiders.
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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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