Whittier Trust Co. Decreases Position in Prologis Inc. (PLD)
Whittier Trust Co. lowered its position in shares of Prologis Inc. (NYSE:PLD) by 5.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,180 shares of the company’s stock after selling 5,911 shares during the period. Whittier Trust Co.’s holdings in Prologis were worth $5,305,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. BKD Wealth Advisors LLC increased its stake in Prologis by 1.1% in the second quarter. BKD Wealth Advisors LLC now owns 6,354 shares of the company’s stock worth $312,000 after buying an additional 68 shares in the last quarter. 1st Global Advisors Inc. increased its stake in Prologis by 0.7% in the second quarter. 1st Global Advisors Inc. now owns 22,213 shares of the company’s stock worth $1,089,000 after buying an additional 155 shares in the last quarter. Creative Planning increased its stake in Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares in the last quarter. Conning Inc. increased its stake in Prologis by 2.4% in the second quarter. Conning Inc. now owns 14,299 shares of the company’s stock worth $701,000 after buying an additional 330 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in Prologis by 13.9% in the second quarter. Checchi Capital Advisers LLC now owns 5,258 shares of the company’s stock worth $258,000 after buying an additional 643 shares in the last quarter. 99.84% of the stock is owned by institutional investors and hedge funds.
Shares of Prologis Inc. (NYSE:PLD) traded down 0.82% during midday trading on Friday, reaching $49.80. The company had a trading volume of 2,523,287 shares. The stock has a market capitalization of $26.24 billion, a PE ratio of 30.40 and a beta of 1.31. Prologis Inc. has a 1-year low of $35.25 and a 1-year high of $54.87. The company’s 50-day moving average is $52.95 and its 200-day moving average is $49.53.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, July 19th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. Prologis had a return on equity of 4.76% and a net margin of 35.66%. The firm had revenue of $602 million for the quarter, compared to analysts’ expectations of $221.07 million. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, equities research analysts forecast that Prologis Inc. will post ($0.27) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.37%. Prologis’s dividend payout ratio is currently 103.07%.
Several brokerages have recently commented on PLD. Royal Bank Of Canada raised their price objective on shares of Prologis from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 26th. Barclays PLC raised their price objective on shares of Prologis from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 26th. RBC Capital Markets reaffirmed an “outperform” rating and set a $55.00 price objective (up previously from $48.00) on shares of Prologis in a research report on Tuesday, July 26th. Wells Fargo & Co. reaffirmed a “neutral” rating on shares of Prologis in a research report on Sunday, September 4th. Finally, Morgan Stanley set a $58.00 price objective on shares of Prologis and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $50.26.
In other news, CEO Hamid R. Moghadam sold 446,991 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $54.35, for a total value of $24,293,960.85. Following the sale, the chief executive officer now directly owns 446,991 shares of the company’s stock, valued at $24,293,960.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gary E. Anderson sold 33,043 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $54.28, for a total value of $1,793,574.04. The disclosure for this sale can be found here. 1.29% of the stock is owned by insiders.
Prologis Company Profile
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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