Prologis, Inc. $PLD Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 51,149 shares of the real estate investment trust’s stock after purchasing an additional 3,847 shares during the period. Ritholtz Wealth Management’s holdings in Prologis were worth $5,858,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Prologis in the 2nd quarter valued at approximately $1,288,936,000. Franklin Resources Inc. raised its position in shares of Prologis by 216.0% during the 2nd quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust’s stock worth $1,056,545,000 after purchasing an additional 6,870,479 shares during the last quarter. State Street Corp boosted its stake in shares of Prologis by 1.9% during the second quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock valued at $6,164,325,000 after acquiring an additional 1,088,544 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Prologis by 11,585.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 882,398 shares of the real estate investment trust’s stock worth $92,758,000 after purchasing an additional 874,847 shares during the last quarter. Finally, Amundi lifted its stake in shares of Prologis by 17.0% during the second quarter. Amundi now owns 4,630,744 shares of the real estate investment trust’s stock valued at $501,556,000 after buying an additional 673,861 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PLD shares. UBS Group lifted their price objective on Prologis from $137.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $130.00 price target (up previously from $128.00) on shares of Prologis in a research note on Thursday, January 8th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a report on Monday, October 20th. Mizuho lifted their target price on Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Finally, BTIG Research boosted their target price on Prologis from $134.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.18.

Prologis Price Performance

Shares of NYSE PLD opened at $132.57 on Friday. The business has a 50 day moving average price of $127.71 and a two-hundred day moving average price of $118.21. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $134.05. The firm has a market cap of $123.14 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 3.88 and a beta of 1.40. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The business had revenue of $2.21 billion during the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, December 16th. Prologis’s payout ratio is 117.78%.

Insider Buying and Selling

In related news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the sale, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James B. Connor sold 80,000 shares of Prologis stock in a transaction dated Friday, October 24th. The shares were 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 a total of 81,121 shares of company stock valued at $10,267,210 over the last quarter. Company insiders own 0.57% of the company’s stock.

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.