American Century Companies Inc. Has $122.03 Million Holdings in Prologis (PLD)

American Century Companies Inc. reduced its position in Prologis (NYSE:PLD) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,937,341 shares of the real estate investment trust’s stock after selling 267,624 shares during the quarter. American Century Companies Inc. owned 0.36% of Prologis worth $122,033,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Prologis by 0.8% in the fourth quarter. BlackRock Inc. now owns 53,388,532 shares of the real estate investment trust’s stock valued at $3,444,094,000 after purchasing an additional 430,576 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Prologis by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,150,415 shares of the real estate investment trust’s stock valued at $719,315,000 after purchasing an additional 42,435 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Prologis by 8.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,652,177 shares of the real estate investment trust’s stock valued at $558,151,000 after purchasing an additional 638,453 shares during the last quarter. Geode Capital Management LLC grew its stake in Prologis by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 6,849,783 shares of the real estate investment trust’s stock valued at $441,114,000 after purchasing an additional 280,857 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Prologis by 77.4% in the fourth quarter. Deutsche Bank AG now owns 6,099,545 shares of the real estate investment trust’s stock valued at $393,473,000 after purchasing an additional 2,661,525 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

In related news, insider Michael S. Curless sold 14,465 shares of the company’s stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $62.49, for a total value of $903,917.85. Following the sale, the insider now owns 102 shares in the company, valued at $6,373.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey L. Skelton sold 3,618 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $65.41, for a total value of $236,653.38. Following the completion of the sale, the director now owns 47,708 shares in the company, valued at approximately $3,120,580.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,701 shares of company stock worth $1,377,116. 1.31% of the stock is owned by insiders.

PLD has been the topic of several analyst reports. Barclays reiterated an “overweight” rating and issued a $72.00 target price on shares of Prologis in a research note on Friday, February 16th. Citigroup upgraded Prologis from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Friday, April 6th. BMO Capital Markets set a $68.00 target price on Prologis and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Jefferies Group upgraded Prologis from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. Finally, Cantor Fitzgerald set a $69.00 target price on Prologis and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $69.00.

Shares of PLD stock opened at $63.28 on Friday. Prologis has a fifty-two week low of $63.50 and a fifty-two week high of $64.34. The stock has a market cap of $33.81 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 4.25 and a beta of 0.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.66 and a current ratio of 0.66.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, April 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.33. The business had revenue of $555.90 million for the quarter, compared to analyst estimates of $552.42 million. Prologis had a return on equity of 9.86% and a net margin of 67.65%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. sell-side analysts predict that Prologis will post 3.01 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, June 14th will be given a $0.48 dividend. The ex-dividend date is Wednesday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 3.03%. Prologis’s dividend payout ratio is currently 68.33%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2017, 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 684 million square feet (64 million square meters) in 19 countries.

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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