Lincoln National Corp grew its position in shares of Prologis, Inc. (NYSE:PLD) by 11.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,254 shares of the real estate investment trust’s stock after buying an additional 1,538 shares during the period. Lincoln National Corp’s holdings in Prologis were worth $1,823,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new stake in Prologis in the 2nd quarter worth about $26,000. Logan Capital Management Inc. purchased a new position in shares of Prologis in the first quarter worth about $29,000. Strategic Blueprint LLC bought a new stake in shares of Prologis in the second quarter valued at approximately $30,000. Meridian Wealth Partners LLC grew its position in shares of Prologis by 70.3% in the first quarter. Meridian Wealth Partners LLC now owns 441 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 182 shares in the last quarter. Finally, Albion Financial Group UT bought a new stake in shares of Prologis during the 2nd quarter valued at $48,000. Institutional investors own 93.04% of the company’s stock.
Several brokerages recently commented on PLD. Truist Securities boosted their price objective on shares of Prologis from $123.00 to $137.00 and gave the company a “buy” rating in a research note on Saturday, July 31st. Deutsche Bank Aktiengesellschaft increased their target price on Prologis from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, August 18th. Royal Bank of Canada lifted their price target on Prologis from $130.00 to $144.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 3rd. Robert W. Baird increased their price objective on Prologis from $108.00 to $124.00 and gave the company a “neutral” rating in a research report on Tuesday, July 20th. Finally, BMO Capital Markets boosted their target price on Prologis from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis currently has a consensus rating of “Buy” and an average target price of $138.69.
NYSE:PLD opened at $133.90 on Thursday. The firm has a market capitalization of $98.99 billion, a P/E ratio of 64.38, a P/E/G ratio of 4.47 and a beta of 0.72. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $131.44 and a 200 day moving average of $123.33. Prologis, Inc. has a 52 week low of $93.08 and a 52 week high of $139.60.
Prologis (NYSE:PLD) last released its quarterly earnings data on Sunday, July 18th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.37. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Prologis had a net margin of 34.54% and a return on equity of 4.27%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.11 earnings per share. As a group, analysts anticipate that Prologis, Inc. will post 4.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Friday, September 17th were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, September 16th. This represents a $2.52 dividend on an annualized basis and a yield of 1.88%. Prologis’s dividend payout ratio is presently 66.32%.
Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.
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