Wealthfront Advisers LLC Boosts Stock Holdings in Prologis, Inc. $PLD

Wealthfront Advisers LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLDFree Report) by 8.7% during the first quarter, HoldingsChannel reports. The fund owned 123,816 shares of the real estate investment trust’s stock after purchasing an additional 9,923 shares during the quarter. Wealthfront Advisers LLC’s holdings in Prologis were worth $16,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after acquiring an additional 15,078 shares during the period. Schnieders Capital Management LLC. grew its position in shares of Prologis by 45.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust’s stock valued at $1,128,000 after purchasing an additional 3,350 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Prologis in the second quarter worth $422,000. NewEdge Advisors LLC raised its position in shares of Prologis by 6.8% in the second quarter. NewEdge Advisors LLC now owns 63,829 shares of the real estate investment trust’s stock worth $6,710,000 after buying an additional 4,074 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Prologis by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 433,312 shares of the real estate investment trust’s stock valued at $45,550,000 after buying an additional 10,266 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

PLD stock opened at $149.96 on Friday. The firm has a market cap of $139.81 billion, a P/E ratio of 37.77 and a beta of 1.32. The firm’s fifty day moving average is $143.02 and its 200 day moving average is $137.82. Prologis, Inc. has a 52 week low of $103.41 and a 52 week high of $150.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.51 and a current ratio of 0.51.

Prologis (NYSE:PLDGet Free Report) last posted its quarterly earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.24. Prologis had a net margin of 41.54% and a return on equity of 6.47%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the business posted $1.43 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Research analysts predict that Prologis, Inc. will post 6.17 earnings per share for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 16th. Prologis’s payout ratio is 107.81%.

Insider Buying and Selling at Prologis

In related news, CFO Timothy D. Arndt sold 3,597 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.52% of the company’s stock.

Key Stories Impacting Prologis

Here are the key news stories impacting Prologis this week:

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PLD shares. Royal Bank Of Canada upped their target price on Prologis from $135.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 28th. Wall Street Zen cut shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. DA Davidson raised their target price on shares of Prologis from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. UBS Group lifted their target price on shares of Prologis from $148.00 to $161.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, BTIG Research lifted their price objective on shares of Prologis from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.81.

Check Out Our Latest Report on PLD

About Prologis

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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