Meag Munich Ergo Kapitalanlagegesellschaft MBH lessened its position in shares of Prologis Inc (NYSE:PLD) by 7.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 207,701 shares of the real estate investment trust’s stock after selling 16,445 shares during the quarter. Prologis makes up approximately 1.2% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s investment portfolio, making the stock its 12th largest holding. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Prologis were worth $14,971,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PLD. Vanguard Group Inc boosted its holdings in shares of Prologis by 17.4% during the 3rd quarter. Vanguard Group Inc now owns 81,760,597 shares of the real estate investment trust’s stock worth $5,542,552,000 after buying an additional 12,095,509 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Prologis by 118.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,082,538 shares of the real estate investment trust’s stock worth $1,158,026,000 after buying an additional 9,255,117 shares in the last quarter. Norges Bank bought a new position in shares of Prologis during the 4th quarter worth approximately $314,275,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Prologis by 5,700.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,003,295 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 3,934,273 shares in the last quarter. Finally, Cohen & Steers Inc. boosted its holdings in shares of Prologis by 12.7% during the 3rd quarter. Cohen & Steers Inc. now owns 22,528,009 shares of the real estate investment trust’s stock worth $1,527,174,000 after buying an additional 2,533,383 shares in the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.
In other Prologis news, insider Edward S. Nekritz sold 16,059 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $71.86, for a total transaction of $1,153,999.74. Following the transaction, the insider now directly owns 51,792 shares in the company, valued at approximately $3,721,773.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward S. Nekritz sold 30,671 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $75.01, for a total value of $2,300,631.71. Following the transaction, the insider now owns 21,121 shares in the company, valued at $1,584,286.21. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
A number of research firms have issued reports on PLD. Barclays restated a “buy” rating on shares of Prologis in a report on Thursday, February 21st. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Friday, April 26th. BMO Capital Markets restated a “buy” rating and set a $70.00 price target on shares of Prologis in a report on Sunday, April 21st. Citigroup upgraded Prologis to a “buy” rating in a report on Wednesday, May 1st. Finally, KeyCorp increased their price target on Prologis from $72.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $74.15.
Shares of PLD traded down $0.28 during trading hours on Wednesday, reaching $76.55. The stock had a trading volume of 1,111,600 shares, compared to its average volume of 2,402,715. Prologis Inc has a 12 month low of $55.21 and a 12 month high of $78.56. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock has a market cap of $48.46 billion, a P/E ratio of 25.26, a P/E/G ratio of 4.26 and a beta of 1.03.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The company had revenue of $696.80 million for the quarter, compared to analysts’ expectations of $687.21 million. During the same period last year, the business earned $0.80 EPS. Prologis’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, analysts expect that Prologis Inc will post 3.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.77%. The ex-dividend date is Wednesday, June 12th. Prologis’s dividend payout ratio (DPR) is presently 69.97%.
Prologis Company Profile
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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