Investors Sell Shares of Prologis Inc. (PLD) on Strength (PLD)
Investors sold shares of Prologis Inc. (NYSE:PLD) on strength during trading hours on Friday. $20.51 million flowed into the stock on the tick-up and $40.65 million flowed out of the stock on the tick-down, for a money net flow of $20.14 million out of the stock. Of all companies tracked, Prologis had the 0th highest net out-flow for the day. Prologis traded up $0.79 for the day and closed at $52.57
Several equities research analysts have recently weighed in on PLD shares. Bank of America Corp. downgraded shares of Prologis from a “buy” rating to a “neutral” rating in a research note on Friday, June 24th. Capital One Financial Corp. downgraded shares of Prologis from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 18th. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price (up previously from $48.00) on shares of Prologis in a research note on Wednesday, June 1st. JPMorgan Chase & Co. reissued a “buy” rating on shares of Prologis in a research note on Wednesday. Finally, Evercore ISI downgraded shares of Prologis from a “buy” rating to a “hold” rating and increased their target price for the company from $48.00 to $49.00 in a research note on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $47.51.
The company’s 50 day moving average is $49.82 and its 200-day moving average is $44.41. The stock has a market capitalization of $27.59 billion and a price-to-earnings ratio of 32.09.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, July 19th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. The company had revenue of $602 million for the quarter, compared to analysts’ expectations of $221.07 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. On average, equities research analysts predict that Prologis Inc. will post ($0.27) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Monday, June 13th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, June 9th. This represents a $1.68 annualized dividend and a dividend yield of 3.20%.
In related news, CFO Thomas S. Olinger sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, April 26th. The stock was sold at an average price of $45.81, for a total transaction of $732,960.00. Following the sale, the chief financial officer now directly owns 42,022 shares in the company, valued at approximately $1,925,027.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CIO Michael S. Curless sold 18,500 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $45.98, for a total value of $850,630.00. Following the sale, the executive now owns 20,531 shares in the company, valued at $944,015.38. The disclosure for this sale can be found here.
A number of large investors have modified their holdings of PLD. Morgan Stanley raised its stake in shares of Prologis by 3.0% in the fourth quarter. Morgan Stanley now owns 10,994,924 shares of the company’s stock worth $471,903,000 after buying an additional 324,268 shares during the period. Principal Financial Group Inc. raised its stake in shares of Prologis by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 9,151,224 shares of the company’s stock worth $392,770,000 after buying an additional 282,045 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Prologis by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,612,147 shares of the company’s stock worth $283,796,000 after buying an additional 67,811 shares during the period. Schroder Investment Management Group raised its stake in shares of Prologis by 0.5% in the fourth quarter. Schroder Investment Management Group now owns 1,210,563 shares of the company’s stock worth $51,957,000 after buying an additional 6,188 shares during the period. Finally, Advantus Capital Management Inc raised its stake in shares of Prologis by 11.8% in the fourth quarter. Advantus Capital Management Inc now owns 1,140,758 shares of the company’s stock worth $48,961,000 after buying an additional 120,669 shares during the period.
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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