Timbercreek Investment Management Inc. Has $10.83 Million Holdings in Prologis Inc (PLD)
Timbercreek Investment Management Inc. lessened its holdings in Prologis Inc (NYSE:PLD) by 19.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,549 shares of the real estate investment trust’s stock after selling 35,700 shares during the quarter. Prologis accounts for about 2.7% of Timbercreek Investment Management Inc.’s holdings, making the stock its 20th biggest position. Timbercreek Investment Management Inc.’s holdings in Prologis were worth $10,832,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in PLD. Vanguard Group Inc boosted its holdings in Prologis by 17.4% in the 3rd quarter. Vanguard Group Inc now owns 81,760,597 shares of the real estate investment trust’s stock valued at $5,542,552,000 after purchasing an additional 12,095,509 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Prologis by 17.4% in the 3rd quarter. Vanguard Group Inc. now owns 81,760,597 shares of the real estate investment trust’s stock valued at $5,542,552,000 after purchasing an additional 12,095,509 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Prologis by 118.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,082,538 shares of the real estate investment trust’s stock valued at $1,158,026,000 after purchasing an additional 9,255,117 shares in the last quarter. Norges Bank purchased a new stake in Prologis in the 4th quarter valued at approximately $314,275,000. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Prologis by 5,700.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,003,295 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 3,934,273 shares in the last quarter. 95.57% of the stock is currently owned by institutional investors.
In other news, Director Philip L. Hawkins sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $68.20, for a total transaction of $1,023,000.00. Following the sale, the director now owns 44,511 shares of the company’s stock, valued at approximately $3,035,650.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward S. Nekritz sold 32,499 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $68.32, for a total value of $2,220,331.68. Following the sale, the insider now directly owns 91,158 shares in the company, valued at approximately $6,227,914.56. The disclosure for this sale can be found here. Insiders have sold a total of 127,126 shares of company stock worth $8,895,929 in the last three months. Corporate insiders own 1.10% of the company’s stock.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, January 22nd. The real estate investment trust reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The business had revenue of $679.20 million for the quarter, compared to analyst estimates of $661.64 million. Prologis had a return on equity of 7.46% and a net margin of 58.81%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 EPS. On average, equities analysts anticipate that Prologis Inc will post 3.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.53 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.12 annualized dividend and a dividend yield of 2.89%. Prologis’s payout ratio is 69.97%.
A number of brokerages have weighed in on PLD. KeyCorp lifted their price objective on Prologis from $72.00 to $77.00 and gave the company a “buy” rating in a report on Monday, March 25th. Robert W. Baird lowered Prologis from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $73.00 to $71.00 in a report on Friday, March 1st. Barclays reaffirmed a “buy” rating on shares of Prologis in a report on Thursday, February 21st. Wells Fargo & Co set a $65.00 price objective on Prologis and gave the company a “market perform” rating in a report on Wednesday, January 16th. They noted that the move was a valuation call. Finally, ValuEngine raised Prologis from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $72.15.
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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 December 31, 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 768 million square feet (71 million square meters) in 19 countries.
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