Prologis Inc (PLD) Position Trimmed by Marshall Wace LLP
Marshall Wace LLP trimmed its holdings in shares of Prologis Inc (NYSE:PLD) by 51.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,381 shares of the real estate investment trust’s stock after selling 11,089 shares during the period. Marshall Wace LLP’s holdings in Prologis were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of PLD. McKinley Carter Wealth Services Inc. acquired a new position in Prologis in the 1st quarter worth about $106,000. Advisors Preferred LLC increased its position in Prologis by 141.1% in the 2nd quarter. Advisors Preferred LLC now owns 1,685 shares of the real estate investment trust’s stock worth $111,000 after purchasing an additional 986 shares during the last quarter. Smithfield Trust Co. increased its position in Prologis by 85.5% in the 2nd quarter. Smithfield Trust Co. now owns 2,319 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 1,069 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Prologis by 50.7% during the 1st quarter. IFP Advisors Inc now owns 2,809 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 945 shares in the last quarter. Finally, NuWave Investment Management LLC bought a new stake in shares of Prologis during the 2nd quarter worth about $186,000. 80.57% of the stock is currently owned by hedge funds and other institutional investors.
In other Prologis news, insider Edward S. Nekritz sold 18,099 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $67.66, for a total value of $1,224,578.34. Following the completion of the transaction, the insider now owns 106,102 shares of the company’s stock, valued at approximately $7,178,861.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William D. Zollars sold 8,020 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $62.45, for a total value of $500,849.00. Following the completion of the transaction, the director now directly owns 11,490 shares of the company’s stock, valued at approximately $717,550.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,095 shares of company stock valued at $4,618,240. Insiders own 1.31% of the company’s stock.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. The firm had revenue of $621.00 million during the quarter, compared to analysts’ expectations of $557.43 million. Prologis had a return on equity of 10.11% and a net margin of 74.17%. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. equities research analysts forecast that Prologis Inc will post 3.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Monday, September 17th will be issued a $0.48 dividend. The ex-dividend date is Friday, September 14th. This represents a $1.92 annualized dividend and a yield of 2.84%. Prologis’s dividend payout ratio (DPR) is 68.33%.
Several analysts have recently issued reports on PLD shares. Jefferies Financial Group reiterated a “$62.97” rating and set a $79.00 price target on shares of Prologis in a research note on Wednesday, July 18th. BTIG Research set a $73.00 price target on Prologis and gave the stock a “buy” rating in a research note on Thursday, August 23rd. JPMorgan Chase & Co. set a $72.00 price target on Prologis and gave the stock a “buy” rating in a research note on Thursday, August 23rd. SunTrust Banks set a $70.00 price target on Prologis and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Finally, Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, June 20th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $71.53.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 685 million square feet (64 million square meters) in 19 countries.
Further Reading: Stock Symbols and CUSIP Explained
Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis Inc (NYSE:PLD).
Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.