Prologis Inc (NYSE:PLD) Holdings Lifted by Cbre Clarion Securities LLC
Cbre Clarion Securities LLC increased its position in shares of Prologis Inc (NYSE:PLD) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,518,620 shares of the real estate investment trust’s stock after purchasing an additional 395,280 shares during the quarter. Prologis makes up about 10.1% of Cbre Clarion Securities LLC’s holdings, making the stock its biggest position. Cbre Clarion Securities LLC owned approximately 0.61% of Prologis worth $363,161,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC boosted its holdings in Prologis by 13.7% during the fourth quarter. Penserra Capital Management LLC now owns 856 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 103 shares during the last quarter. Assetmark Inc. boosted its stake in Prologis by 4.1% in the fourth quarter. Assetmark Inc. now owns 2,868 shares of the real estate investment trust’s stock valued at $256,000 after acquiring an additional 114 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Prologis by 0.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 17,905 shares of the real estate investment trust’s stock valued at $1,596,000 after acquiring an additional 121 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Prologis by 23.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 645 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 122 shares during the last quarter. Finally, MUFG Americas Holdings Corp lifted its stake in shares of Prologis by 1.9% during the 4th quarter. MUFG Americas Holdings Corp now owns 6,675 shares of the real estate investment trust’s stock valued at $595,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 95.00% of the company’s stock.
PLD has been the topic of a number of recent research reports. Royal Bank of Canada restated a “buy” rating and set a $102.00 price target on shares of Prologis in a research note on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of Prologis from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Stifel Nicolaus upped their price target on shares of Prologis from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Citigroup dropped their price target on shares of Prologis from $105.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Finally, Deutsche Bank dropped their price target on shares of Prologis from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $94.80.
Prologis stock traded up $2.12 during midday trading on Wednesday, reaching $97.58. 146,512 shares of the stock were exchanged, compared to its average volume of 2,901,547. The company’s fifty day moving average is $88.28 and its 200-day moving average is $88.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $70.85 billion, a PE ratio of 37.15, a PEG ratio of 3.67 and a beta of 0.96. Prologis Inc has a 52 week low of $59.82 and a 52 week high of $99.79.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.11). The company had revenue of $878.81 million during the quarter, compared to the consensus estimate of $801.54 million. Prologis had a return on equity of 6.00% and a net margin of 48.50%. Prologis’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 EPS. On average, sell-side analysts anticipate that Prologis Inc will post 3.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Monday, June 15th. Prologis’s payout ratio is 70.09%.
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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