Strs Ohio Cuts Stake in Prologis Inc. (PLD)
Strs Ohio cut its stake in shares of Prologis Inc. (NYSE:PLD) by 14.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,054,255 shares of the company’s stock after selling 339,631 shares during the period. Strs Ohio’s holdings in Prologis were worth $100,740,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of PLD. BKD Wealth Advisors LLC boosted its stake in Prologis by 1.1% in the second quarter. BKD Wealth Advisors LLC now owns 6,354 shares of the company’s stock valued at $312,000 after buying an additional 68 shares in the last quarter. 1st Global Advisors Inc. boosted its stake in shares of Prologis by 0.7% in the second quarter. 1st Global Advisors Inc. now owns 22,213 shares of the company’s stock worth $1,089,000 after buying an additional 155 shares during the period. Creative Planning boosted its stake in shares of Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Prologis by 13.9% in the second quarter. Checchi Capital Advisers LLC now owns 5,258 shares of the company’s stock worth $258,000 after buying an additional 643 shares during the period. Finally, DNB Asset Management AS boosted its stake in shares of Prologis by 1.5% in the second quarter. DNB Asset Management AS now owns 53,598 shares of the company’s stock worth $2,029,000 after buying an additional 800 shares during the period. 99.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Prologis Inc. (NYSE:PLD) traded down 0.29% during trading on Tuesday, hitting $52.27. 2,023,101 shares of the stock traded hands. The company has a 50 day moving average of $53.29 and a 200-day moving average of $48.68. The company has a market cap of $27.54 billion, a PE ratio of 31.91 and a beta of 1.32. Prologis Inc. has a 1-year low of $35.25 and a 1-year high of $54.87.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, July 19th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Prologis had a net margin of 35.66% and a return on equity of 4.76%. The company had revenue of $602 million for the quarter, compared to the consensus estimate of $221.07 million. During the same quarter in the previous year, the company earned $0.14 EPS. On average, equities analysts anticipate that Prologis Inc. will post ($0.27) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 19th will be paid a $0.42 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.21%. Prologis’s dividend payout ratio is presently 103.07%.
A number of analysts have weighed in on the stock. Morgan Stanley set a $58.00 target price on shares of Prologis and gave the stock a “buy” rating in a report on Tuesday, September 6th. Wells Fargo & Co. reissued a “neutral” rating on shares of Prologis in a report on Sunday, September 4th. BTIG Research assumed coverage on shares of Prologis in a report on Thursday, August 25th. They set a “buy” rating and a $60.00 target price on the stock. Robert W. Baird cut shares of Prologis from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $54.00 in a report on Wednesday, August 17th. Finally, Capital One Financial Corp. cut shares of Prologis from an “equal weight” rating to an “underweight” rating and set a $48.00 target price on the stock. in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $50.26.
In other news, CEO Hamid R. Moghadam sold 37,673 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $51.01, for a total value of $1,921,699.73. Following the sale, the chief executive officer now owns 37,673 shares in the company, valued at approximately $1,921,699.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hamid R. Moghadam sold 349,668 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $51.14, for a total transaction of $17,882,021.52. Following the completion of the sale, the chief executive officer now owns 349,668 shares in the company, valued at approximately $17,882,021.52. The disclosure for this sale can be found here. 1.29% of the stock is currently owned by insiders.
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis Inc. (NYSE:PLD).
Receive News & Ratings for Prologis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.