Capital World Investors Has $389.37 Million Stake in Prologis, Inc. (PLD)
Capital World Investors lifted its stake in Prologis, Inc. (NYSE:PLD) by 181.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,640,000 shares of the real estate investment trust’s stock after purchasing an additional 4,280,000 shares during the quarter. Capital World Investors owned about 1.25% of Prologis worth $389,370,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Prologis by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 76,905,109 shares of the real estate investment trust’s stock valued at $4,509,716,000 after buying an additional 249,341 shares in the last quarter. BlackRock Inc. raised its stake in Prologis by 1.3% during the second quarter. BlackRock Inc. now owns 51,529,145 shares of the real estate investment trust’s stock valued at $3,021,668,000 after buying an additional 673,429 shares during the last quarter. State Street Corp raised its stake in Prologis by 0.6% during the first quarter. State Street Corp now owns 31,172,110 shares of the real estate investment trust’s stock valued at $1,617,220,000 after buying an additional 177,743 shares during the last quarter. FMR LLC raised its stake in Prologis by 9.4% during the first quarter. FMR LLC now owns 24,650,787 shares of the real estate investment trust’s stock valued at $1,278,883,000 after buying an additional 2,127,092 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Prologis by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 10,961,903 shares of the real estate investment trust’s stock valued at $642,806,000 after buying an additional 661,314 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.
Shares of Prologis, Inc. (NYSE PLD) traded up 0.08% during midday trading on Wednesday, reaching $63.74. 198,545 shares of the company were exchanged. The firm has a market capitalization of $33.90 billion, a P/E ratio of 28.61 and a beta of 0.92. Prologis, Inc. has a 52 week low of $45.93 and a 52 week high of $65.49. The firm has a 50-day moving average of $63.38 and a 200 day moving average of $58.15.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The business had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576.00 million. During the same quarter in the previous year, the firm earned $0.60 EPS. The firm’s revenue was up 27.2% compared to the same quarter last year. On average, equities research analysts expect that Prologis, Inc. will post ($0.27) EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, September 15th. Prologis’s dividend payout ratio (DPR) is currently 79.28%.
In other news, Director Carl B. Webb sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the completion of the transaction, the director now directly owns 66,078 shares in the company, valued at $4,055,867.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.31% of the company’s stock.
PLD has been the subject of several analyst reports. KeyCorp restated a “buy” rating and set a $65.00 price target on shares of Prologis in a report on Friday, September 29th. BTIG Research reaffirmed a “buy” rating and issued a $68.00 price target (up previously from $62.00) on shares of Prologis in a research report on Wednesday, September 27th. BidaskClub upgraded shares of Prologis from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $65.00 price target on shares of Prologis in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $59.00 price objective on shares of Prologis in a research report on Thursday, June 8th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $61.69.
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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