Prologis Inc (PLD) Stake Increased by DnB Asset Management AS
DnB Asset Management AS grew its holdings in Prologis Inc (NYSE:PLD) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,681 shares of the real estate investment trust’s stock after buying an additional 900 shares during the quarter. DnB Asset Management AS’s holdings in Prologis were worth $3,656,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Schroder Investment Management Group purchased a new position in Prologis in the 2nd quarter valued at approximately $247,000. CIBC World Markets Inc. increased its stake in Prologis by 104.5% in the 2nd quarter. CIBC World Markets Inc. now owns 19,047 shares of the real estate investment trust’s stock valued at $1,117,000 after purchasing an additional 9,731 shares in the last quarter. Eaton Vance Management increased its stake in Prologis by 7.0% in the 2nd quarter. Eaton Vance Management now owns 56,989 shares of the real estate investment trust’s stock valued at $3,342,000 after purchasing an additional 3,720 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Prologis by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,664,268 shares of the real estate investment trust’s stock valued at $215,470,000 after purchasing an additional 85,930 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in Prologis by 7.0% in the 2nd quarter. Norinchukin Bank The now owns 36,802 shares of the real estate investment trust’s stock valued at $2,158,000 after purchasing an additional 2,404 shares in the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.
Prologis Inc (NYSE PLD) opened at $61.85 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $32,802.86, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 3.95 and a beta of 0.92. Prologis Inc has a 1 year low of $48.33 and a 1 year high of $67.53.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $531.18 million during the quarter, compared to the consensus estimate of $573.68 million. Prologis had a return on equity of 9.93% and a net margin of 68.50%. Prologis’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. sell-side analysts forecast that Prologis Inc will post 2.8 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Friday, December 15th. Prologis’s payout ratio is 52.85%.
Several research firms recently weighed in on PLD. KeyCorp reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Prologis in a research note on Friday, September 29th. BTIG Research reaffirmed a “buy” rating and issued a $68.00 price objective (up from $62.00) on shares of Prologis in a research note on Wednesday, September 27th. BMO Capital Markets set a $69.00 price objective on Prologis and gave the company a “buy” rating in a research note on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Prologis in a research note on Thursday, September 21st. Finally, Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $66.57.
In other Prologis news, CEO Eugene F. Reilly sold 15,000 shares of the firm’s stock in a transaction on 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 owns 63,365 shares of the company’s stock, valued at $4,220,742.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward S. Nekritz sold 15,752 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total value of $1,016,161.52. Following the transaction, the insider now directly owns 146,414 shares of the company’s stock, valued at approximately $9,445,167.14. The disclosure for this sale can be found here. Insiders have sold 99,852 shares of company stock valued at $6,600,519 in the last three months. 1.31% of the stock is currently owned by company insiders.
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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