State Street Corp Has $1.77 Billion Position in Prologis, Inc. (PLD)
State Street Corp lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 30,206,846 shares of the real estate investment trust’s stock after selling 965,264 shares during the period. State Street Corp owned approximately 5.68% of Prologis worth $1,771,323,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Guardian Life Insurance Co. of America lifted its stake in Prologis by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 14 shares during the period. Creative Planning lifted its stake in Prologis by 3.4% during the 2nd quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 69 shares during the period. Evercore Wealth Management LLC lifted its stake in Prologis by 18.2% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 350 shares during the period. Independent Portfolio Consultants Inc. lifted its stake in Prologis by 82.0% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock valued at $159,000 after acquiring an additional 1,225 shares during the period. Finally, Solaris Asset Management LLC lifted its stake in Prologis by 11.0% during the 2nd quarter. Solaris Asset Management LLC now owns 3,135 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.
In related news, Director Carl B. Webb sold 20,000 shares of the business’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 sale, the director now directly owns 66,078 shares in the company, valued at $4,055,867.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.31% of the stock is currently owned by insiders.
Several equities analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Prologis in a research note on Monday, September 11th. They set an “outperform” rating and a $69.00 target price on the stock. SunTrust Banks, Inc. upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, September 5th. Royal Bank Of Canada restated a “buy” rating and set a $59.00 target price on shares of Prologis in a research note on Thursday, June 8th. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Monday, July 31st. Finally, Bank of America Corporation raised shares of Prologis from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $65.00 in a research report on Friday, June 23rd. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $61.69.
Prologis, Inc. (PLD) traded down 0.59% on Friday, hitting $64.19. The stock had a trading volume of 298,393 shares. The company has a 50-day moving average of $63.51 and a 200 day moving average of $58.24. Prologis, Inc. has a 12 month low of $45.93 and a 12 month high of $65.49. The company has a market cap of $34.14 billion, a PE ratio of 28.81 and a beta of 0.92.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576.00 million. During the same period in the previous year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, analysts predict that Prologis, Inc. will post ($0.27) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, September 15th. Prologis’s payout ratio is 79.28%.
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.
Receive News & Stock Ratings for Prologis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis Inc. and related stocks with our FREE daily email newsletter.