Liberty One Investment Management LLC Buys 14,142 Shares of Prologis, Inc. $PLD

Liberty One Investment Management LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 29.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,544 shares of the real estate investment trust’s stock after purchasing an additional 14,142 shares during the period. Liberty One Investment Management LLC’s holdings in Prologis were worth $7,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. Vanguard Group Inc. boosted its stake in Prologis by 0.3% in the second quarter. Vanguard Group Inc. now owns 121,741,332 shares of the real estate investment trust’s stock worth $12,797,449,000 after buying an additional 401,922 shares in the last quarter. State Street Corp raised its stake in shares of Prologis by 1.9% during the second quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after acquiring an additional 1,088,544 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Prologis by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock worth $2,345,922,000 after acquiring an additional 310,333 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Prologis by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock valued at $1,735,205,000 after purchasing an additional 253,338 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Prologis during the 2nd quarter valued at $1,288,936,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Prologis news, Director James B. Connor sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the transaction, the director directly owned 8,208 shares of the company’s stock, valued at $1,047,340.80. This represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 81,121 shares of company stock worth $10,267,210 in the last quarter. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PLD shares. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research note on Monday, October 20th. UBS Group raised their price target on Prologis from $137.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Prologis in a research report on Monday, December 29th. BTIG Research increased their price objective on Prologis from $134.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Finally, Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.18.

Prologis Stock Performance

NYSE:PLD opened at $129.05 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $127.26 and its 200 day simple moving average is $117.84. The stock has a market cap of $119.87 billion, a P/E ratio of 37.62, a price-to-earnings-growth ratio of 3.80 and a beta of 1.40. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $131.70.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. The business had revenue of $2.21 billion during the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. As a group, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, December 16th. Prologis’s payout ratio is presently 117.78%.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.