Fort Washington Investment Advisors Inc. OH Sells 907 Shares of Prologis, Inc. (PLD)
Fort Washington Investment Advisors Inc. OH decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 26,181 shares of the real estate investment trust’s stock after selling 907 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Prologis were worth $1,535,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of PLD. BlackRock Inc. raised its position in shares of Prologis by 2,123.5% during the 1st quarter. BlackRock Inc. now owns 50,855,716 shares of the real estate investment trust’s stock valued at $2,638,393,000 after acquiring an additional 48,568,495 shares during the last quarter. Brookfield Asset Management Inc. acquired a new position in shares of Prologis in the 1st quarter valued at $227,403,000. FMR LLC boosted its stake in Prologis by 9.4% in the 1st quarter. FMR LLC now owns 24,650,787 shares of the real estate investment trust’s stock worth $1,278,883,000 after purchasing an additional 2,127,092 shares during the period. Swedbank acquired a new position in Prologis in the 2nd quarter worth $120,268,000. Finally, Vanguard Group Inc. boosted its stake in Prologis by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 76,655,768 shares of the real estate investment trust’s stock worth $3,976,902,000 after purchasing an additional 1,873,351 shares during the period. Institutional investors own 96.00% of the company’s stock.
PLD has been the subject of a number of research analyst reports. Bank of America Corporation raised shares of Prologis from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $65.00 in a research note on Friday, June 23rd. BidaskClub downgraded shares of Prologis from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Zacks Investment Research raised shares of Prologis from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $59.00 target price on shares of Prologis in a report on Thursday, June 8th. Finally, Stifel Nicolaus upped their target price on shares of Prologis from $57.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Prologis has an average rating of “Buy” and a consensus price target of $60.56.
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Shares of Prologis, Inc. (NYSE:PLD) opened at 65.20 on Friday. The company has a market cap of $34.68 billion, a price-to-earnings ratio of 29.26 and a beta of 0.93. The stock has a 50 day moving average of $62.33 and a 200 day moving average of $56.88. Prologis, Inc. has a 52-week low of $45.93 and a 52-week high of $65.49.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $766.18 million for the quarter, compared to the consensus estimate of $576.00 million. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. On average, equities research analysts expect that Prologis, Inc. will post ($0.27) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 15th. Prologis’s payout ratio is 79.28%.
In other Prologis news, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the sale, the director now owns 66,078 shares in the company, valued at approximately $4,055,867.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.31% of the company’s stock.
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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