Washington Trust Bank Acquires 2,716 Shares of Prologis Inc (PLD)
Washington Trust Bank grew its holdings in Prologis Inc (NYSE:PLD) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,710 shares of the real estate investment trust’s stock after acquiring an additional 2,716 shares during the period. Washington Trust Bank’s holdings in Prologis were worth $3,723,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in PLD. Evercore Wealth Management LLC boosted its holdings in shares of Prologis by 18.2% in the 2nd quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 350 shares during the last quarter. ETF Managers Group LLC purchased a new stake in shares of Prologis in the 2nd quarter valued at $193,000. Commerce Bank purchased a new stake in shares of Prologis in the 2nd quarter valued at $209,000. Segment Wealth Management LLC purchased a new stake in shares of Prologis in the 3rd quarter valued at $213,000. Finally, BB&T Securities LLC purchased a new stake in shares of Prologis in the 3rd quarter valued at $213,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.
Prologis Inc (NYSE PLD) traded down $0.50 on Wednesday, hitting $64.01. 1,532,100 shares of the company traded hands, compared to its average volume of 1,536,750. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.80 and a current ratio of 0.80. Prologis Inc has a 1 year low of $48.33 and a 1 year high of $67.53. The firm has a market cap of $34,324.61, a PE ratio of 19.22, a P/E/G ratio of 4.11 and a beta of 0.92.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The firm had revenue of $531.18 million during the quarter, compared to analysts’ expectations of $573.68 million. During the same period in the previous year, the business posted $0.14 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. analysts forecast that Prologis Inc will post 2.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Friday, December 15th. Prologis’s dividend payout ratio is presently 52.85%.
Several research firms have recently commented on PLD. Evercore ISI raised shares of Prologis from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. JPMorgan Chase & Co. downgraded shares of Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 price objective on the stock. in a report on Friday, December 15th. Citigroup upped their price objective on shares of Prologis from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. KeyCorp upped their price objective on shares of Prologis from $65.00 to $68.00 and gave the company a “buy” rating in a report on Monday, October 16th. Finally, BMO Capital Markets began coverage on shares of Prologis in a research note on Monday, September 11th. They issued an “outperform” rating and a $69.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $66.57.
In other Prologis news, insider Edward S. Nekritz sold 15,752 shares of the company’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $64.51, for a total transaction of $1,016,161.52. Following the completion of the transaction, the insider now directly owns 146,414 shares in the company, valued at $9,445,167.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lori A. Palazzolo sold 4,900 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $65.89, for a total transaction of $322,861.00. The disclosure for this sale can be found here. Insiders have sold 99,852 shares of company stock valued at $6,600,519 over the last 90 days. 1.31% of the stock is currently owned by company insiders.
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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