Tower Research Capital LLC TRC Acquires Shares of 3,037 Prologis Inc. (PLD)
Tower Research Capital LLC TRC acquired a new stake in Prologis Inc. (NYSE:PLD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,037 shares of the company’s stock, valued at approximately $149,000.
Several other hedge funds also recently made changes to their positions in PLD. Daiwa Securities Group Inc. boosted its position in shares of Prologis by 106.2% in the second quarter. Daiwa Securities Group Inc. now owns 15,437,311 shares of the company’s stock worth $757,046,000 after buying an additional 7,950,874 shares in the last quarter. Shinko Asset Management Co. Ltd. boosted its position in shares of Prologis by 19.7% in the second quarter. Shinko Asset Management Co. Ltd. now owns 10,726,986 shares of the company’s stock worth $526,051,000 after buying an additional 1,766,843 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Prologis during the second quarter worth about $81,698,000. Vanguard Group Inc. boosted its position in shares of Prologis by 2.3% in the second quarter. Vanguard Group Inc. now owns 73,654,987 shares of the company’s stock worth $3,612,041,000 after buying an additional 1,623,990 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Prologis by 15,634.1% in the first quarter. Renaissance Technologies LLC now owns 1,368,871 shares of the company’s stock worth $60,477,000 after buying an additional 1,360,171 shares in the last quarter. 99.84% of the stock is owned by institutional investors.
Prologis Inc. (NYSE:PLD) opened at 49.80 on Friday. The stock has a market cap of $26.24 billion, a price-to-earnings ratio of 30.40 and a beta of 1.31. Prologis Inc. has a 12-month low of $35.25 and a 12-month high of $54.87. The firm’s 50-day moving average price is $52.84 and its 200-day moving average price is $49.58.
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 analysts predict that Prologis Inc. will post ($0.27) EPS for the current fiscal 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 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%.
A number of equities analysts recently issued reports on PLD shares. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Prologis in a report on Wednesday, July 20th. Bank of America Corp. cut Prologis from a “buy” rating to a “neutral” rating in a report on Friday, June 24th. Deutsche Bank AG cut Prologis from a “buy” rating to a “hold” rating and increased their target price for the stock from $48.00 to $50.00 in a report on Tuesday, June 21st. SunTrust Banks Inc. cut Prologis from a “buy” rating to a “neutral” rating and increased their target price for the stock from $35.25 to $49.11 in a report on Thursday, June 30th. Finally, Robert W. Baird cut Prologis from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $54.00 in a report on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $50.26.
In other news, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the chief executive officer now directly owns 446,991 shares in the company, valued at $24,293,960.85. The disclosure for this sale can be found here. 1.29% of the stock is owned by insiders.
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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