Generate Investment Management Ltd Trims Stock Holdings in Prologis, Inc. $PLD

Generate Investment Management Ltd lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 40.3% in the third quarter, Holdings Channel reports. The institutional investor owned 73,648 shares of the real estate investment trust’s stock after selling 49,743 shares during the quarter. Generate Investment Management Ltd’s holdings in Prologis were worth $8,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ignite Planners LLC grew its holdings in Prologis by 3.2% during the 3rd quarter. Ignite Planners LLC now owns 2,937 shares of the real estate investment trust’s stock worth $336,000 after acquiring an additional 92 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Prologis by 0.7% during the second quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock worth $1,438,000 after purchasing an additional 93 shares during the last quarter. Michael S. Ryan Inc. lifted its position in shares of Prologis by 2.9% during the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 94 shares during the last quarter. Stableford Capital II LLC grew its stake in Prologis by 0.4% in the third quarter. Stableford Capital II LLC now owns 21,090 shares of the real estate investment trust’s stock worth $2,415,000 after purchasing an additional 94 shares in the last quarter. Finally, Palogic Value Management L.P. lifted its holdings in Prologis by 4.7% during the 2nd quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 96 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the transaction, the director owned 8,208 shares of the company’s stock, valued at $1,047,340.80. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and increased their target price for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Scotiabank increased their price objective on shares of Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a report on Monday, October 20th. Industrial Alliance Securities set a $119.00 target price on Prologis in a research note on Monday, October 20th. Finally, Mizuho increased their price target on Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $127.00.

Prologis Stock Up 0.4%

PLD opened at $128.96 on Wednesday. The company has a market capitalization of $119.79 billion, a P/E ratio of 37.60, a P/E/G ratio of 3.95 and a beta of 1.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s fifty day moving average price is $126.69 and its two-hundred day moving average price is $116.41. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $131.70.

Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.21 billion for the quarter. On average, analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Prologis 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.