Midwest Professional Planners LTD. Increases Stock Holdings in Prologis, Inc. $PLD

Midwest Professional Planners LTD. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 74.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,575 shares of the real estate investment trust’s stock after purchasing an additional 3,664 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Prologis were worth $1,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PLD. Nvwm LLC raised its stake in shares of Prologis by 6,069.7% in the fourth quarter. Nvwm LLC now owns 15,486 shares of the real estate investment trust’s stock valued at $1,977,000 after acquiring an additional 15,235 shares during the period. CIBC Bancorp USA Inc. bought a new position in Prologis during the 3rd quarter valued at about $42,158,000. Murphy Middleton Hinkle & Parker Inc. bought a new position in Prologis during the 4th quarter valued at about $2,581,000. Avanza Fonder AB raised its position in Prologis by 8.4% in the 4th quarter. Avanza Fonder AB now owns 70,789 shares of the real estate investment trust’s stock worth $9,037,000 after purchasing an additional 5,508 shares during the period. Finally, Swiss Life Asset Management Ltd raised its position in Prologis by 19.6% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 172,836 shares of the real estate investment trust’s stock worth $19,793,000 after purchasing an additional 28,349 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock opened at $143.46 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market capitalization of $133.75 billion, a P/E ratio of 36.14 and a beta of 1.32. The company’s 50-day simple moving average is $142.87 and its two-hundred day simple moving average is $137.67. Prologis, Inc. has a one year low of $103.41 and a one year high of $150.18.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.24. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.12 billion. Prologis had a net margin of 41.54% and a return on equity of 6.47%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. As a group, equities analysts anticipate that Prologis, Inc. will post 6.17 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, June 16th. Prologis’s dividend payout ratio (DPR) is presently 107.81%.

Insider Buying and Selling

In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of Prologis stock in a transaction on Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Truist Financial boosted their target price on Prologis from $139.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Royal Bank Of Canada increased their price target on Prologis from $135.00 to $148.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 28th. Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. The Goldman Sachs Group restated a “neutral” rating and set a $157.00 price objective on shares of Prologis in a report on Friday, April 17th. Finally, UBS Group upped their price objective on Prologis from $148.00 to $161.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average price target of $152.00.

Prologis 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.