State of Alaska Department of Revenue Grows Stake in Prologis Inc (PLD)
State of Alaska Department of Revenue lifted its position in shares of Prologis Inc (NYSE:PLD) by 11.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 328,495 shares of the real estate investment trust’s stock after acquiring an additional 34,229 shares during the period. State of Alaska Department of Revenue’s holdings in Prologis were worth $21,188,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. National Asset Management Inc. raised its stake in shares of Prologis by 1.5% during the 2nd quarter. National Asset Management Inc. now owns 5,137 shares of the real estate investment trust’s stock worth $302,000 after buying an additional 75 shares during the last quarter. Miles Capital Inc. raised its stake in Prologis by 1.5% in the 2nd quarter. Miles Capital Inc. now owns 10,345 shares of the real estate investment trust’s stock valued at $607,000 after purchasing an additional 157 shares during the last quarter. People s United Financial Inc. raised its stake in Prologis by 0.8% in the 2nd quarter. People s United Financial Inc. now owns 32,510 shares of the real estate investment trust’s stock valued at $1,906,000 after purchasing an additional 250 shares during the last quarter. Muzinich & Co. Inc. raised its stake in Prologis by 5.8% in the 2nd quarter. Muzinich & Co. Inc. now owns 6,049 shares of the real estate investment trust’s stock valued at $355,000 after purchasing an additional 334 shares during the last quarter. Finally, Evercore Wealth Management LLC raised its stake in Prologis by 18.2% in the 2nd quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 350 shares during the last quarter. 95.38% of the stock is owned by institutional investors and hedge funds.
Shares of Prologis Inc (PLD) opened at $61.43 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $32,690.00, a PE ratio of 18.45, a price-to-earnings-growth ratio of 4.03 and a beta of 0.92. Prologis Inc has a fifty-two week low of $48.33 and a fifty-two week high of $67.53.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.87%. The ex-dividend date was Friday, December 15th. Prologis’s dividend payout ratio (DPR) is 52.85%.
Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. KeyCorp reissued a “buy” rating and issued a $72.00 target price on shares of Prologis in a research note on Thursday, December 21st. JPMorgan Chase & Co. downgraded shares of Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 target price for the company. in a research note on Friday, December 15th. Evercore ISI raised shares of Prologis from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Finally, Wells Fargo & Co set a $65.00 target price on shares of Prologis and gave the company a “hold” rating in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Prologis currently has an average rating of “Buy” and an average price target of $66.57.
In other Prologis news, CFO Thomas S. Olinger sold 46,200 shares of Prologis stock in a transaction dated Monday, December 18th. The stock was 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 owns 36,325 shares in the company, valued at approximately $2,409,437.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward S. Nekritz sold 15,752 shares of Prologis stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $64.51, for a total value of $1,016,161.52. Following the completion of the sale, the insider now 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 sold a total of 99,852 shares of company stock valued at $6,600,519 in the last 90 days. 1.31% of the stock is owned by company insiders.
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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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