Riverhead Capital Management LLC Sells 23,250 Shares of Prologis, Inc. (PLD)
Riverhead Capital Management LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 57.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,335 shares of the real estate investment trust’s stock after selling 23,250 shares during the period. Riverhead Capital Management LLC’s holdings in Prologis were worth $1,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the business. Guardian Life Insurance Co. of America grew its holdings in Prologis by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 14 shares in the last quarter. Shine Investment Advisory Services Inc. grew its holdings in Prologis by 0.6% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 8,929 shares of the real estate investment trust’s stock worth $524,000 after acquiring an additional 52 shares in the last quarter. Creative Planning grew its holdings in Prologis by 3.4% during the 2nd quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 69 shares in the last quarter. LS Investment Advisors LLC grew its holdings in Prologis by 0.5% during the 2nd quarter. LS Investment Advisors LLC now owns 15,478 shares of the real estate investment trust’s stock worth $908,000 after acquiring an additional 76 shares in the last quarter. Finally, BKD Wealth Advisors LLC grew its holdings in Prologis by 1.3% during the 2nd quarter. BKD Wealth Advisors LLC now owns 6,091 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 77 shares in the last quarter. Institutional investors own 96.00% of the company’s stock.
Shares of Prologis, Inc. (NYSE PLD) opened at 65.20 on Friday. The company has a market capitalization of $34.68 billion, a PE ratio of 29.26 and a beta of 0.93. Prologis, Inc. has a 12-month low of $45.93 and a 12-month high of $65.49. The stock has a 50 day moving average of $62.33 and a 200-day moving average of $56.88.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The firm had revenue of $766.18 million for the quarter, compared to analyst estimates of $576.00 million. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. Analysts predict that Prologis, Inc. will post ($0.27) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, September 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.70%. Prologis’s payout ratio is 79.28%.
In related news, Director Carl B. Webb sold 20,000 shares of the company’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 directly owns 66,078 shares in the company, valued at $4,055,867.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.31% of the stock is currently owned by corporate insiders.
Several research analysts have issued reports on PLD shares. BidaskClub cut shares of Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC reiterated a “hold” rating and set a $60.00 target price (up from $54.00) on shares of Prologis in a report on Sunday, June 25th. Barclays PLC reiterated an “overweight” rating and set a $61.00 target price (up from $59.00) on shares of Prologis in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Wednesday, June 7th. Finally, KeyCorp reiterated a “buy” rating and set a $65.00 target price on shares of Prologis in a report on Sunday, August 27th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Prologis has a consensus rating of “Buy” and a consensus target price of $60.56.
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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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