Prologis, Inc. (PLD) Shares Bought by Federated Investors Inc. PA
Federated Investors Inc. PA increased its position in Prologis, Inc. (NYSE:PLD) by 27.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,610 shares of the real estate investment trust’s stock after purchasing an additional 6,429 shares during the quarter. Federated Investors Inc. PA’s holdings in Prologis were worth $1,736,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Brookfield Asset Management Inc. bought a new stake in shares of Prologis in the 1st quarter valued at about $227,403,000. Sprott Inc. bought a new stake in shares of Prologis in the 1st quarter valued at about $306,000. Ameriprise Financial Inc. raised its holdings in shares of Prologis by 13.4% in the 1st quarter. Ameriprise Financial Inc. now owns 3,578,338 shares of the real estate investment trust’s stock valued at $185,307,000 after purchasing an additional 422,806 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Prologis by 4.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 4,050,931 shares of the real estate investment trust’s stock valued at $210,163,000 after purchasing an additional 161,081 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Prologis by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 76,655,768 shares of the real estate investment trust’s stock valued at $3,976,902,000 after purchasing an additional 1,873,351 shares during the period. 96.00% of the stock is currently owned by institutional investors.
Shares of Prologis, Inc. (NYSE:PLD) opened at 63.97 on Monday. The firm has a market cap of $34.02 billion, a price-to-earnings ratio of 28.71 and a beta of 0.93. Prologis, Inc. has a 52-week low of $45.93 and a 52-week high of $64.30. The company’s 50 day moving average is $61.69 and its 200 day moving average is $56.38.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576 million. Prologis had a net margin of 43.99% and a return on equity of 6.65%. Prologis’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. Analysts anticipate that Prologis, Inc. will post ($0.27) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, September 15th. This represents a $1.76 annualized dividend and a yield of 2.75%. Prologis’s dividend payout ratio is currently 79.28%.
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A number of equities research analysts have recently issued reports on the stock. SunTrust Banks, Inc. raised shares of Prologis from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, September 5th. KeyCorp reaffirmed a “buy” rating and issued a $65.00 target price on shares of Prologis in a report on Sunday, August 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $66.00 price target (up previously from $59.00) on shares of Prologis in a research note on Thursday, August 24th. BidaskClub upgraded shares of Prologis from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research lowered shares of Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $60.00.
In related news, CEO Gary E. Anderson sold 65,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $58.55, for a total transaction of $3,805,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl B. Webb sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the transaction, the director now directly owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by 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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