Clearbridge Investments LLC lifted its position in shares of Prologis Inc (NYSE:PLD) by 2,588.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,909 shares of the real estate investment trust’s stock after acquiring an additional 36,499 shares during the period. Clearbridge Investments LLC’s holdings in Prologis were worth $3,047,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. grew its stake in Prologis by 18.6% during the 1st quarter. BlackRock Inc. now owns 73,711,651 shares of the real estate investment trust’s stock worth $5,924,207,000 after buying an additional 11,584,385 shares during the last quarter. State Street Corp grew its stake in shares of Prologis by 17.2% in the first quarter. State Street Corp now owns 48,037,125 shares of the real estate investment trust’s stock worth $3,860,744,000 after purchasing an additional 7,043,958 shares in the last quarter. APG Asset Management US Inc. grew its stake in shares of Prologis by 0.4% in the first quarter. APG Asset Management US Inc. now owns 24,822,500 shares of the real estate investment trust’s stock worth $1,994,984,000 after purchasing an additional 96,500 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Prologis by 20.1% in the first quarter. JPMorgan Chase & Co. now owns 23,971,067 shares of the real estate investment trust’s stock worth $1,926,555,000 after purchasing an additional 4,008,563 shares in the last quarter. Finally, Cohen & Steers Inc. grew its stake in shares of Prologis by 10.0% in the first quarter. Cohen & Steers Inc. now owns 21,904,046 shares of the real estate investment trust’s stock worth $1,760,429,000 after purchasing an additional 1,996,418 shares in the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Shares of NYSE PLD opened at $91.17 on Tuesday. Prologis Inc has a 12 month low of $59.82 and a 12 month high of $99.79. The company has a market cap of $66.35 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 3.49 and a beta of 0.96. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $90.87 and a 200-day simple moving average of $88.40.

Prologis (NYSE:PLD) last announced its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.11). Prologis had a net margin of 48.50% and a return on equity of 6.00%. The company had revenue of $878.81 million for the quarter, compared to analysts’ expectations of $801.54 million. During the same period in the prior year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. As a group, sell-side analysts expect that Prologis Inc will post 3.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.54%. The ex-dividend date is Monday, June 15th. Prologis’s dividend payout ratio is currently 70.09%.

In related news, Director George L. Fotiades sold 1,339 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $96.38, for a total value of $129,052.82. Following the completion of the sale, the director now directly owns 22,710 shares of the company’s stock, valued at approximately $2,188,789.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey L. Skelton sold 6,762 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.20, for a total value of $603,170.40. Following the completion of the sale, the director now directly owns 54,791 shares of the company’s stock, valued at $4,887,357.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,863 shares of company stock valued at $1,347,565. Company insiders own 0.93% of the company’s stock.

PLD has been the subject of several recent analyst reports. Citigroup decreased their price target on Prologis from $105.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. JPMorgan Chase & Co. cut their price objective on Prologis from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Stifel Nicolaus upped their price objective on Prologis from $76.00 to $85.00 and gave the company a “buy” rating in a report on Monday, April 6th. Morgan Stanley cut their price objective on Prologis from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Finally, Deutsche Bank cut their price objective on Prologis from $96.00 to $90.00 and set a “buy” rating for the company in a report on Friday, April 24th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $94.80.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 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 768 million square feet (71 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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