Cerity Partners LLC Increases Position in Prologis, Inc. $PLD

Cerity Partners LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 17.1% in the third quarter, HoldingsChannel reports. The firm owned 230,795 shares of the real estate investment trust’s stock after buying an additional 33,734 shares during the period. Cerity Partners LLC’s holdings in Prologis were worth $26,431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. D.A. Davidson & CO. grew its position in shares of Prologis by 16.7% in the third quarter. D.A. Davidson & CO. now owns 587,157 shares of the real estate investment trust’s stock valued at $67,241,000 after purchasing an additional 83,966 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in Prologis in the 2nd quarter worth about $875,000. Generali Asset Management SPA SGR boosted its holdings in Prologis by 33.4% in the 3rd quarter. Generali Asset Management SPA SGR now owns 100,314 shares of the real estate investment trust’s stock worth $11,488,000 after buying an additional 25,133 shares during the last quarter. Verity & Verity LLC raised its holdings in shares of Prologis by 42.8% during the third quarter. Verity & Verity LLC now owns 165,438 shares of the real estate investment trust’s stock valued at $18,946,000 after acquiring an additional 49,604 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its holdings in shares of Prologis by 36.7% during the third quarter. DAVENPORT & Co LLC now owns 50,912 shares of the real estate investment trust’s stock valued at $5,830,000 after acquiring an additional 13,666 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $128.38 on Friday. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $131.70. The stock has a market cap of $119.25 billion, a P/E ratio of 37.43, a PEG ratio of 3.72 and a beta of 1.40. The company has a 50-day moving average price of $127.06 and a 200 day moving average price of $117.36. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. The company had revenue of $2.21 billion for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, December 16th. Prologis’s dividend payout ratio is presently 117.78%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of research analyst reports. BTIG Research lifted their price target on Prologis from $134.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 31st. Evercore ISI raised their price objective on Prologis from $116.00 to $118.00 in a report on Monday, December 22nd. Robert W. Baird reiterated a “neutral” rating and issued a $130.00 target price (up from $128.00) on shares of Prologis in a research report on Thursday. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Finally, Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.18.

Insider Buying and Selling at Prologis

In other Prologis news, Director James B. Connor sold 80,000 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director owned 8,208 shares in the company, valued at $1,047,340.80. This represents a 7.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 81,121 shares of company stock valued at $10,267,210. 0.57% of the stock is owned by insiders.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.