Griffin Asset Management Inc. Reduces Position in Prologis Inc (PLD)

Griffin Asset Management Inc. decreased its position in Prologis Inc (NYSE:PLD) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,855 shares of the real estate investment trust’s stock after selling 150 shares during the period. Griffin Asset Management Inc.’s holdings in Prologis were worth $344,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PLD. Benjamin F. Edwards & Company Inc. raised its holdings in Prologis by 134.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 300 shares during the period. Clean Yield Group bought a new stake in Prologis during the 4th quarter valued at $31,000. PRW Wealth Management LLC bought a new stake in Prologis during the 4th quarter valued at $33,000. Lindbrook Capital LLC bought a new stake in Prologis during the 4th quarter valued at $33,000. Finally, Evolution Wealth Advisors LLC bought a new stake in Prologis during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 95.57% of the company’s stock.

Shares of Prologis stock traded up $1.31 during trading on Friday, hitting $73.57. The stock had a trading volume of 2,287,302 shares, compared to its average volume of 2,119,197. The stock has a market cap of $46.37 billion, a P/E ratio of 24.28, a PEG ratio of 4.32 and a beta of 1.02. Prologis Inc has a 12 month low of $55.21 and a 12 month high of $74.59. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.45 and a current ratio of 0.13.

Prologis (NYSE:PLD) last released its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. The business had revenue of $696.80 million for the quarter, compared to analysts’ expectations of $687.21 million. Prologis had a return on equity of 6.82% and a net margin of 56.56%. The firm’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Sell-side analysts predict that Prologis Inc will post 3.19 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Thursday, March 14th. This is a boost from Prologis’s previous quarterly dividend of $0.48. Prologis’s dividend payout ratio is currently 69.97%.

In related news, insider Edward S. Nekritz sold 16,059 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $71.86, for a total value of $1,153,999.74. Following the transaction, the insider now owns 51,792 shares of the company’s stock, valued at $3,721,773.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eugene F. Reilly sold 19,000 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $71.07, for a total transaction of $1,350,330.00. Following the sale, the chief executive officer now owns 17,685 shares of the company’s stock, valued at $1,256,872.95. The disclosure for this sale can be found here. In the last three months, insiders sold 127,126 shares of company stock worth $8,895,929. 1.10% of the stock is owned by insiders.

A number of equities research analysts have issued reports on PLD shares. Wells Fargo & Co set a $65.00 target price on shares of 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. Robert W. Baird cut shares of Prologis from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $73.00 to $71.00 in a report on Friday, March 1st. KeyCorp upped their price target on shares of Prologis from $72.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, March 25th. BMO Capital Markets reaffirmed a “buy” rating and issued a $70.00 price target on shares of Prologis in a report on Sunday. Finally, ValuEngine raised shares of Prologis from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Prologis presently has a consensus 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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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