Cleararc Capital Inc. raised its stake in Prologis Inc (NYSE:PLD) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,121 shares of the real estate investment trust’s stock after purchasing an additional 4,200 shares during the quarter. Prologis comprises about 1.2% of Cleararc Capital Inc.’s investment portfolio, making the stock its 15th biggest position. Cleararc Capital Inc.’s holdings in Prologis were worth $9,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its position in Prologis by 17.4% in the third quarter. Retirement Systems of Alabama now owns 626,508 shares of the real estate investment trust’s stock valued at $42,471,000 after purchasing an additional 92,821 shares during the period. CIBC Asset Management Inc raised its position in Prologis by 5.2% in the second quarter. CIBC Asset Management Inc now owns 54,077 shares of the real estate investment trust’s stock valued at $3,552,000 after purchasing an additional 2,690 shares during the period. Cbre Clarion Securities LLC raised its position in Prologis by 2.7% in the second quarter. Cbre Clarion Securities LLC now owns 7,919,441 shares of the real estate investment trust’s stock valued at $520,228,000 after purchasing an additional 210,819 shares during the period. Bank of America Corp DE raised its position in Prologis by 7.1% in the second quarter. Bank of America Corp DE now owns 6,028,563 shares of the real estate investment trust’s stock valued at $396,017,000 after purchasing an additional 400,104 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Prologis by 48.7% in the third quarter. Quadrant Capital Group LLC now owns 2,507 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 821 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Several research firms have commented on PLD. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Bank of America raised their price objective on Prologis from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, September 10th. ValuEngine raised Prologis from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. BTIG Research set a $73.00 target price on Prologis and gave the company a “buy” rating in a research note on Thursday, August 23rd. Finally, JPMorgan Chase & Co. set a $72.00 target price on Prologis and gave the company a “buy” rating in a research note on Thursday, August 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Prologis has a consensus rating of “Buy” and an average price target of $71.93.

In related news, Director Philip L. Hawkins sold 15,000 shares of Prologis stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $67.23, for a total value of $1,008,450.00. Following the completion of the transaction, the director now directly owns 69,511 shares in the company, valued at $4,673,224.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward S. Nekritz sold 18,099 shares of Prologis stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $67.66, for a total value of $1,224,578.34. Following the completion of the transaction, the insider now owns 106,102 shares of the company’s stock, valued at $7,178,861.32. The disclosure for this sale can be found here. Insiders sold 52,907 shares of company stock valued at $3,565,328 over the last quarter. Insiders own 1.31% of the company’s stock.

Shares of Prologis stock opened at $68.48 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market cap of $42.09 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 4.40 and a beta of 0.75. Prologis Inc has a 1-year low of $58.28 and a 1-year high of $68.95.

Prologis (NYSE:PLD) last announced its earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $611.00 million during the quarter, compared to the consensus estimate of $582.23 million. Prologis had a return on equity of 6.65% and a net margin of 51.66%. The company’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. On average, analysts predict that Prologis Inc will post 3.02 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Tuesday, December 18th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.80%. Prologis’s dividend payout ratio (DPR) is 68.33%.

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Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 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 771 million square feet (72 million square meters) in 19 countries.

See Also: Cash Flow

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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