Prologis Inc (PLD) Shares Sold by Eaton Vance Management
Eaton Vance Management decreased its holdings in shares of Prologis Inc (NYSE:PLD) by 7.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,669 shares of the real estate investment trust’s stock after selling 4,309 shares during the period. Eaton Vance Management’s holdings in Prologis were worth $3,398,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its stake in Prologis by 75.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 1,152 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Prologis during the fourth quarter valued at $200,000. BB&T Securities LLC bought a new stake in Prologis during the third quarter valued at $213,000. ClariVest Asset Management LLC boosted its stake in Prologis by 30,750.0% during the third quarter. ClariVest Asset Management LLC now owns 3,702 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 3,690 shares during the period. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in Prologis during the third quarter valued at $247,000. 93.45% of the stock is owned by institutional investors.
In other news, Director William D. Zollars sold 4,020 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total value of $243,129.60. Following the completion of the sale, the director now owns 20,225 shares of the company’s stock, valued at approximately $1,223,208. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas S. Olinger sold 46,200 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $66.33, for a total value of $3,064,446.00. Following the completion of the sale, the chief financial officer now directly owns 36,325 shares of the company’s stock, valued at approximately $2,409,437.25. The disclosure for this sale can be found here. In the last three months, insiders sold 70,872 shares of company stock valued at $4,646,598. 1.31% of the stock is currently owned by corporate insiders.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 7.64% and a net margin of 54.66%. The firm had revenue of $550.65 million during the quarter, compared to analyst estimates of $533.54 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. sell-side analysts forecast that Prologis Inc will post 2.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Prologis’s previous quarterly dividend of $0.44. Prologis’s payout ratio is 57.70%.
Several equities research analysts recently issued reports on PLD shares. Zacks Investment Research lowered Prologis from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Evercore ISI raised Prologis from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. KeyCorp reissued a “buy” rating and set a $72.00 price objective on shares of Prologis in a research note on Thursday, December 21st. BMO Capital Markets set a $68.00 price objective on Prologis and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. lowered Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 price objective for the company. in a research note on Friday, December 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $67.56.
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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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