Piedmont Investment Advisors LLC Increases Holdings in Prologis Inc (PLD)
Piedmont Investment Advisors LLC boosted its holdings in shares of Prologis Inc (NYSE:PLD) by 112.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,288 shares of the real estate investment trust’s stock after acquiring an additional 66,290 shares during the period. Piedmont Investment Advisors LLC’s holdings in Prologis were worth $7,951,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Evercore Wealth Management LLC raised its position in Prologis by 18.2% during the second quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock worth $134,000 after acquiring an additional 350 shares during the last quarter. IFP Advisors Inc raised its position in Prologis by 40.7% during the second quarter. IFP Advisors Inc now owns 3,164 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 915 shares during the last quarter. ETF Managers Group LLC acquired a new position in Prologis during the second quarter worth about $193,000. Segment Wealth Management LLC acquired a new position in Prologis during the third quarter worth about $213,000. Finally, BB&T Securities LLC acquired a new position in Prologis during the third quarter worth about $213,000. Institutional investors own 95.57% of the company’s stock.
In related news, CEO Eugene F. Reilly sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $66.61, for a total value of $999,150.00. Following the completion of the sale, the chief executive officer now directly owns 63,365 shares in the company, valued at $4,220,742.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Eugene F. Reilly sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $66.55, for a total transaction of $1,197,900.00. Following the completion of the sale, the chief executive officer now owns 63,365 shares of the company’s stock, valued at $4,216,940.75. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by insiders.
A number of equities analysts have issued reports on the stock. Evercore ISI upgraded shares of Prologis from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Wells Fargo & Company set a $65.00 target price on shares of Prologis and gave the stock a “hold” rating in a research report on Thursday, October 26th. Bank of America set a $72.00 target price on shares of Prologis and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Citigroup lifted their price target on shares of Prologis from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Finally, BMO Capital Markets set a $69.00 price target on shares of Prologis and gave the stock a “buy” rating in a report on Tuesday, October 17th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $66.31.
Shares of Prologis Inc (PLD) traded down $0.41 during midday trading on Thursday, hitting $65.76. 2,232,900 shares of the stock were exchanged, compared to its average volume of 2,387,248. The stock has a market capitalization of $35,207.86, a P/E ratio of 23.89, a PEG ratio of 4.36 and a beta of 0.91. Prologis Inc has a 1-year low of $48.33 and a 1-year high of $67.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.53.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The business had revenue of $531.18 million during the quarter, compared to the consensus estimate of $573.68 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. analysts expect that Prologis Inc will post 2.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 18th will be issued a $0.44 dividend. The ex-dividend date is Friday, December 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.68%. Prologis’s payout ratio is 52.85%.
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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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