Investec Asset Management LTD reduced its stake in shares of Prologis Inc (NYSE:PLD) by 50.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,600 shares of the real estate investment trust’s stock after selling 153,100 shares during the quarter. Investec Asset Management LTD’s holdings in Prologis were worth $10,980,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of PLD. First Quadrant L P CA acquired a new position in shares of Prologis in the 1st quarter valued at $94,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Prologis in the 1st quarter valued at about $482,000. Lindbrook Capital LLC increased its stake in shares of Prologis by 61.5% in the 1st quarter. Lindbrook Capital LLC now owns 932 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 355 shares during the last quarter. Advisor Partners LLC increased its stake in shares of Prologis by 18.5% in the 1st quarter. Advisor Partners LLC now owns 13,079 shares of the real estate investment trust’s stock valued at $941,000 after acquiring an additional 2,038 shares during the last quarter. Finally, Brinker Capital Inc. increased its stake in shares of Prologis by 24.7% in the 1st quarter. Brinker Capital Inc. now owns 12,775 shares of the real estate investment trust’s stock valued at $919,000 after acquiring an additional 2,528 shares during the last quarter. 95.15% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on PLD. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Friday. KeyCorp set a $79.00 price target on Prologis and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets reaffirmed a “buy” rating and issued a $70.00 price target on shares of Prologis in a research note on Sunday, April 21st. Barclays reaffirmed a “buy” rating on shares of Prologis in a research note on Thursday, February 21st. Finally, Robert W. Baird cut Prologis from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $73.00 to $71.00 in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $73.17.
NYSE PLD opened at $76.10 on Friday. Prologis Inc has a 52-week low of $55.21 and a 52-week high of $76.13. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.13 and a quick ratio of 0.45. The company has a market cap of $48.00 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 4.30 and a beta of 1.02.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Prologis had a return on equity of 6.82% and a net margin of 56.56%. The business had revenue of $696.80 million during the quarter, compared to analysts’ expectations of $687.21 million. During the same period in the prior year, the business earned $0.80 EPS. Prologis’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, sell-side analysts expect that Prologis Inc will post 3.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.79%. This is a boost from Prologis’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, March 14th. Prologis’s dividend payout ratio is presently 69.97%.
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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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