Massachusetts Financial Services Co. MA Reduces Stock Holdings in Prologis, Inc. $PLD

Massachusetts Financial Services Co. MA cut its position in shares of Prologis, Inc. (NYSE:PLD) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,268,008 shares of the real estate investment trust’s stock after selling 238,891 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.75% of Prologis worth $1,863,012,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Stenger Family Office LLC boosted its stake in Prologis by 7.6% during the third quarter. Stenger Family Office LLC now owns 34,236 shares of the real estate investment trust’s stock worth $4,351,000 after buying an additional 2,424 shares during the period. Beacon Financial Advisory LLC lifted its holdings in shares of Prologis by 178.2% in the 3rd quarter. Beacon Financial Advisory LLC now owns 11,800 shares of the real estate investment trust’s stock worth $1,351,000 after acquiring an additional 7,559 shares during the last quarter. Resonant Capital Advisors LLC purchased a new position in shares of Prologis during the 3rd quarter worth approximately $216,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Prologis by 176.5% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,695 shares of the real estate investment trust’s stock worth $193,000 after purchasing an additional 1,082 shares during the period. Finally, Meitav Investment House Ltd. increased its holdings in Prologis by 9.8% in the 3rd quarter. Meitav Investment House Ltd. now owns 715,384 shares of the real estate investment trust’s stock valued at $81,740,000 after purchasing an additional 64,000 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the transaction, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James B. Connor sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The disclosure for this sale is available in the SEC filing. Insiders sold 81,121 shares of company stock valued at $10,267,210 over the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Prologis Price Performance

Shares of PLD opened at $133.21 on Friday. The firm has a market capitalization of $123.74 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 3.91 and a beta of 1.40. The firm’s fifty day simple moving average is $127.86 and its 200-day simple moving average is $118.49. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $134.94. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. The firm had revenue of $2.21 billion for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. Equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.0%. Prologis’s payout ratio is presently 117.78%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley set a $135.00 price objective on Prologis in a report on Friday. Scotiabank raised shares of Prologis from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $133.00 to $146.00 in a research note on Wednesday. Barclays reiterated an “overweight” rating and set a $139.00 target price on shares of Prologis in a report on Tuesday. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research report on Monday, October 20th. Finally, UBS Group boosted their price target on shares of Prologis from $137.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $132.31.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.