Premia Global Advisors LLC Takes $192,000 Position in Prologis Inc (PLD)
Premia Global Advisors LLC purchased a new stake in shares of Prologis Inc (NYSE:PLD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,985 shares of the real estate investment trust’s stock, valued at approximately $192,000.
Other large investors also recently modified their holdings of the company. Virtue Capital Management LLC bought a new position in shares of Prologis during the fourth quarter valued at $143,000. Parallel Advisors LLC increased its holdings in shares of Prologis by 66.3% during the fourth quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 1,000 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Prologis by 75.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 1,152 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Prologis in the 4th quarter worth about $200,000. Finally, BB&T Securities LLC bought a new stake in Prologis in the 3rd quarter worth about $213,000. Hedge funds and other institutional investors own 95.39% of the company’s stock.
PLD has been the subject of several research analyst reports. Zacks Investment Research downgraded Prologis from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. Barclays reiterated an “overweight” rating and issued a $72.00 price objective on shares of Prologis in a report on Friday, February 16th. KeyCorp reiterated a “buy” rating and issued a $72.00 price objective on shares of Prologis in a report on Thursday, December 21st. Finally, BMO Capital Markets set a $68.00 price objective on Prologis and gave the stock a “buy” rating in a report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $67.56.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $550.65 million for the quarter, compared to analysts’ expectations of $533.54 million. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. equities analysts anticipate that Prologis Inc will post 2.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.03%. This is a boost from Prologis’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, March 14th. Prologis’s dividend payout ratio (DPR) is presently 57.52%.
In other Prologis news, Director William D. Zollars sold 4,020 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total value of $243,129.60. Following the transaction, the director now directly owns 20,225 shares of the company’s stock, valued at $1,223,208. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lori A. Palazzolo sold 4,900 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $65.89, for a total value of $322,861.00. The disclosure for this sale can be found here. Insiders sold 70,872 shares of company stock worth $4,646,598 over the last three months. Insiders own 1.31% of the company’s stock.
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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