Duff & Phelps Investment Management Co. Reduces Stake in Prologis Inc. (PLD)
Duff & Phelps Investment Management Co. reduced its position in Prologis Inc. (NYSE:PLD) by 37.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,146,734 shares of the company’s stock after selling 688,775 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.22% of Prologis worth $56,236,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of PLD. Creative Planning raised its position in shares of Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares during the period. Meeder Asset Management Inc. raised its position in shares of Prologis by 1,589.2% in the first quarter. Meeder Asset Management Inc. now owns 3,767 shares of the company’s stock worth $167,000 after buying an additional 3,544 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Prologis by 13.9% in the second quarter. Checchi Capital Advisers LLC now owns 5,258 shares of the company’s stock worth $258,000 after buying an additional 643 shares during the period. Commonwealth Equity Services Inc raised its position in shares of Prologis by 19.9% in the first quarter. Commonwealth Equity Services Inc now owns 6,559 shares of the company’s stock worth $290,000 after buying an additional 1,087 shares during the period. Finally, BKD Wealth Advisors LLC raised its position in shares of Prologis by 1.1% in the second quarter. BKD Wealth Advisors LLC now owns 6,354 shares of the company’s stock worth $312,000 after buying an additional 68 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.
Shares of Prologis Inc. (NYSE:PLD) traded up 0.46% during mid-day trading on Wednesday, hitting $52.31. The company had a trading volume of 2,217,176 shares. The company has a market capitalization of $27.56 billion, a P/E ratio of 31.94 and a beta of 1.31. Prologis Inc. has a one year low of $35.25 and a one year high of $54.87. The firm’s 50-day moving average price is $52.34 and its 200 day moving average price is $50.00.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, September 15th. Prologis’s dividend payout ratio (DPR) is currently 103.07%.
A number of equities analysts recently issued reports on PLD shares. JPMorgan Chase & Co. reissued a “buy” rating on shares of Prologis in a report on Wednesday, July 20th. Cantor Fitzgerald reissued a “buy” rating and issued a $55.00 price objective on shares of Prologis in a report on Wednesday, July 20th. BTIG Research started coverage on Prologis in a report on Thursday, August 25th. They issued a “buy” rating and a $60.00 price objective for the company. Morgan Stanley set a $58.00 price objective on Prologis and gave the stock a “buy” rating in a report on Tuesday, September 6th. Finally, Evercore ISI raised Prologis from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Prologis currently has an average rating of “Hold” and an average price target of $50.86.
In other news, CEO Hamid R. Moghadam sold 446,991 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $54.35, for a total transaction of $24,293,960.85. Following the sale, the chief executive officer now owns 446,991 shares of the company’s stock, valued at $24,293,960.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gary E. Anderson sold 33,043 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $54.28, for a total value of $1,793,574.04. The disclosure for this sale can be found here. Company insiders own 1.29% of the company’s stock.
Prologis Company Profile
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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