State of New Jersey Common Pension Fund D raised its position in shares of Prologis Inc (NYSE:PLD) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 817,000 shares of the real estate investment trust’s stock after acquiring an additional 5,000 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.13% of Prologis worth $58,784,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of Prologis by 118.2% in 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 purchasing an additional 9,255,117 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Prologis by 11.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,358,197 shares of the real estate investment trust’s stock worth $92,072,000 after purchasing an additional 134,850 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Prologis by 10.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 2,921,790 shares of the real estate investment trust’s stock worth $198,068,000 after purchasing an additional 265,647 shares in the last quarter. Nordea Investment Management AB bought a new stake in shares of Prologis in the 3rd quarter worth approximately $63,196,000. Finally, Morgan Stanley boosted its position in shares of Prologis by 10.4% in the 3rd quarter. Morgan Stanley now owns 6,322,461 shares of the real estate investment trust’s stock worth $428,599,000 after purchasing an additional 593,779 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.
PLD stock traded down $1.22 during midday trading on Wednesday, hitting $73.15. The company’s stock had a trading volume of 1,949,348 shares, compared to its average volume of 1,921,153. The stock has a market capitalization of $47.57 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 4.19 and a beta of 1.03. Prologis Inc has a 12 month low of $55.21 and a 12 month high of $78.56. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.42.
Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $696.80 million for the quarter, compared to analysts’ expectations of $687.21 million. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. On average, research analysts predict that Prologis Inc will post 3.22 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date is Wednesday, June 12th. This represents a $2.12 dividend on an annualized basis and a yield of 2.90%. Prologis’s dividend payout ratio is presently 69.97%.
A number of brokerages have recently commented on PLD. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Goldman Sachs Group began coverage on Prologis in a research report on Wednesday, May 15th. They issued a “conviction-buy” rating on the stock. Citigroup set a $86.00 price objective on Prologis and gave the company a “buy” rating in a research report on Wednesday, May 8th. KeyCorp set a $79.00 price objective on Prologis and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Prologis in a research report on Sunday, April 21st. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Prologis presently has an average rating of “Buy” and an average price target of $74.15.
In other Prologis news, insider Edward S. Nekritz sold 30,671 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the completion of the sale, the insider now directly owns 21,121 shares in the company, valued at approximately $1,584,286.21. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Edward S. Nekritz sold 16,059 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $71.86, for a total transaction of $1,153,999.74. Following the sale, the insider now owns 51,792 shares of the company’s stock, valued at $3,721,773.12. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
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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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