BB&T Securities LLC Acquires New Stake in Prologis Inc (PLD)
BB&T Securities LLC acquired a new stake in shares of Prologis Inc (NYSE:PLD) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,368 shares of the real estate investment trust’s stock, valued at approximately $213,000.
Other hedge funds have also added to or reduced their stakes in the company. Wesbanco Bank Inc. lifted its position in Prologis by 76.9% during the second quarter. Wesbanco Bank Inc. now owns 29,900 shares of the real estate investment trust’s stock valued at $1,753,000 after purchasing an additional 13,000 shares during the last quarter. Swiss National Bank lifted its position in Prologis by 3.2% during the second quarter. Swiss National Bank now owns 1,933,060 shares of the real estate investment trust’s stock valued at $113,355,000 after purchasing an additional 60,000 shares during the last quarter. Cipher Capital LP raised its stake in shares of Prologis by 98.1% in the second quarter. Cipher Capital LP now owns 44,673 shares of the real estate investment trust’s stock valued at $2,620,000 after acquiring an additional 22,120 shares during the period. Lazard Asset Management LLC raised its stake in shares of Prologis by 3,877.2% in the second quarter. Lazard Asset Management LLC now owns 2,533,654 shares of the real estate investment trust’s stock valued at $148,573,000 after acquiring an additional 2,469,949 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Prologis by 1.3% in the second quarter. BlackRock Inc. now owns 51,529,145 shares of the real estate investment trust’s stock valued at $3,021,668,000 after acquiring an additional 673,429 shares during the period. Institutional investors and hedge funds own 95.57% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Evercore ISI raised shares of Prologis from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Citigroup increased their target price on shares of Prologis from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. KeyCorp increased their target price on shares of Prologis from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, October 16th. BMO Capital Markets assumed coverage on shares of Prologis in a research note on Monday, September 11th. They issued an “outperform” rating and a $69.00 target price on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $65.00 target price on shares of Prologis in a research note on Thursday, September 21st. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $66.31.
In related news, CEO Eugene F. Reilly sold 18,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $66.55, for a total value of $1,197,900.00. Following the transaction, the chief executive officer now owns 63,365 shares of the company’s stock, valued at approximately $4,216,940.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eugene F. Reilly sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $66.61, for a total transaction of $999,150.00. Following the completion of the transaction, the chief executive officer now directly owns 63,365 shares in the company, valued at approximately $4,220,742.65. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.
Prologis Inc (NYSE PLD) traded up $0.44 during mid-day trading on Wednesday, reaching $66.17. 1,761,200 shares of the company traded hands, compared to its average volume of 2,387,893. The stock has a market cap of $35,080.00, a P/E ratio of 23.73, a PEG ratio of 4.33 and a beta of 0.91. Prologis Inc has a 52 week low of $48.33 and a 52 week high of $67.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.53.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. The company had revenue of $531.18 million for the quarter, compared to the consensus estimate of $573.68 million. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. analysts predict that Prologis Inc will post 2.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 18th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, December 15th. Prologis’s dividend payout ratio is presently 52.85%.
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Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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