Acadian Asset Management LLC Invests $392,000 in Prologis Inc (NYSE:PLD) Stock
Acadian Asset Management LLC purchased a new position in Prologis Inc (NYSE:PLD) during the first quarter, Holdings Channel reports. The fund purchased 5,450 shares of the real estate investment trust’s stock, valued at approximately $392,000.
A number of other institutional investors also recently made changes to their positions in PLD. Cipher Capital LP bought a new stake in shares of Prologis in the 4th quarter worth approximately $4,142,000. Phocas Financial Corp. boosted its position in shares of Prologis by 78.5% during the fourth quarter. Phocas Financial Corp. now owns 35,214 shares of the real estate investment trust’s stock valued at $2,068,000 after purchasing an additional 15,491 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Prologis by 3.3% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 88,103 shares of the real estate investment trust’s stock valued at $5,173,000 after purchasing an additional 2,819 shares in the last quarter. State Treasurer State of Michigan boosted its position in shares of Prologis by 0.8% during the first quarter. State Treasurer State of Michigan now owns 181,611 shares of the real estate investment trust’s stock valued at $13,067,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Prologis by 15.5% during the fourth quarter. Cerity Partners LLC now owns 49,807 shares of the real estate investment trust’s stock valued at $2,925,000 after purchasing an additional 6,667 shares in the last quarter. 95.46% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on PLD shares. Robert W. Baird lowered Prologis from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $73.00 to $71.00 in a research report on Friday, March 1st. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. KeyCorp set a $79.00 price target on Prologis and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Goldman Sachs Group started coverage on Prologis in a research report on Wednesday, May 15th. They set a “conviction-buy” rating on the stock. Finally, Citigroup lifted their price target on Prologis from $73.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Prologis currently has a consensus rating of “Buy” and an average target price of $74.46.
Shares of NYSE:PLD opened at $79.93 on Friday. The firm has a market cap of $49.73 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 4.38 and a beta of 1.01. Prologis Inc has a 12-month low of $55.21 and a 12-month high of $80.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.36.
Prologis (NYSE:PLD) last announced 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 Zacks’ consensus estimate of $0.72 by $0.01. The business had revenue of $696.80 million during 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 earnings per share. As a group, research analysts anticipate 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 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, June 12th. Prologis’s payout ratio is 69.97%.
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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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