Dimensional Fund Advisors LP Increases Position in Prologis, Inc. (PLD)
Dimensional Fund Advisors LP raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,367,417 shares of the real estate investment trust’s stock after buying an additional 195,586 shares during the quarter. Dimensional Fund Advisors LP owned about 1.39% of Prologis worth $432,027,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PLD. BlackRock Inc. grew 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 worth $2,638,393,000 after buying an additional 48,568,495 shares during the period. Brookfield Asset Management Inc. acquired a new position in shares of Prologis during the 1st quarter worth about $227,403,000. Lazard Asset Management LLC grew its position in shares of Prologis by 3,877.2% during the 2nd quarter. Lazard Asset Management LLC now owns 2,533,654 shares of the real estate investment trust’s stock worth $148,573,000 after buying an additional 2,469,949 shares during the period. FMR LLC grew its position in shares of Prologis by 9.4% during 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 buying an additional 2,127,092 shares during the period. Finally, Swedbank acquired a new position in shares of Prologis during the 2nd quarter worth about $120,268,000. Institutional investors own 95.91% of the company’s stock.
Prologis, Inc. (NYSE PLD) traded down 1.06% during trading on Friday, hitting $63.68. The stock had a trading volume of 1,807,350 shares. The stock has a 50 day moving average of $62.54 and a 200 day moving average of $57.16. Prologis, Inc. has a one year low of $45.93 and a one year high of $65.49. The firm has a market capitalization of $33.87 billion, a P/E ratio of 28.58 and a beta of 0.93.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The business had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576.00 million. During the same quarter last year, the firm posted $0.60 earnings per share. The firm’s revenue was up 27.2% on a year-over-year basis. Equities research analysts expect that Prologis, Inc. will post ($0.27) earnings per share for the current fiscal year.
The firm 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 annualized dividend and a yield of 2.76%. Prologis’s dividend payout ratio is currently 79.28%.
Several equities analysts have recently issued reports on PLD shares. Stifel Nicolaus boosted their target price on Prologis from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 30th. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Royal Bank Of Canada restated a “buy” rating and set a $59.00 target price on shares of Prologis in a research report on Thursday, June 8th. BidaskClub lowered Prologis from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Bank of America Corporation upgraded Prologis from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $65.00 in a research report on Friday, June 23rd. 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. The company presently has a consensus rating of “Buy” and an average target price of $60.88.
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In related news, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the completion of the sale, the director now owns 66,078 shares of the company’s stock, valued at $4,055,867.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.31% of the company’s stock.
Prologis Company Profile
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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