MetLife Investment Advisors LLC bought a new stake in Prologis Inc (NYSE:PLD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 164,630 shares of the real estate investment trust’s stock, valued at approximately $10,620,000.
A number of other large investors have also recently modified their holdings of PLD. Virtue Capital Management LLC bought a new stake in Prologis in the fourth quarter valued at approximately $143,000. Parallel Advisors LLC increased its stake in Prologis by 66.3% in the fourth quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 1,000 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Prologis by 75.5% in 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 purchasing an additional 1,152 shares in the last quarter. Premia Global Advisors LLC bought a new stake in Prologis in the fourth quarter valued at approximately $192,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Prologis in the fourth quarter valued at approximately $200,000. 95.38% of the stock is owned by hedge funds and other institutional investors.
In related news, Director William D. Zollars sold 4,020 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $60.48, for a total transaction of $243,129.60. Following the completion of the transaction, the director now owns 20,225 shares in the company, valued at $1,223,208. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward S. Nekritz sold 15,752 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $1,016,161.52. Following the transaction, 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. Corporate insiders own 1.31% of the company’s stock.
Several equities research analysts have commented on the stock. Barclays upped their target price on shares of Prologis from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. KeyCorp reaffirmed a “buy” rating and issued a $72.00 target price on shares of Prologis in a research note on Thursday, December 21st. Cantor Fitzgerald set a $69.00 target price on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Jefferies Group reaffirmed a “neutral” rating on shares of Prologis in a research note on Wednesday, January 24th. Finally, Robert W. Baird upped their target price on shares of Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Prologis presently has an average rating of “Buy” and an average price target of $67.56.
PLD stock opened at $63.58 on Wednesday. The firm has a market cap of $33,763.64, a P/E ratio of 22.54, a PEG ratio of 4.76 and a beta of 0.88. Prologis Inc has a 1-year low of $49.44 and a 1-year high of $67.53. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.51.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Prologis had a net margin of 63.11% and a return on equity of 9.12%. The company had revenue of $550.65 million during the quarter, compared to analysts’ expectations of $533.54 million. During the same quarter in the prior year, the company earned $0.63 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. sell-side analysts expect that Prologis Inc will post 2.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a dividend of $0.48 per share. This is a boost from Prologis’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, March 14th. This represents a $1.92 annualized dividend and a yield of 3.02%. Prologis’s dividend payout ratio is presently 62.75%.
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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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