National Asset Management Inc. lifted its holdings in shares of Prologis Inc (NYSE:PLD) by 110.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 16,607 shares of the real estate investment trust’s stock after acquiring an additional 8,717 shares during the period. National Asset Management Inc.’s holdings in Prologis were worth $1,337,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of 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 acquiring an additional 11,584,385 shares during the period. FMR LLC lifted its holdings in Prologis by 2.4% during the 4th quarter. FMR LLC now owns 24,754,343 shares of the real estate investment trust’s stock valued at $2,206,601,000 after purchasing an additional 585,434 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Prologis by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 12,504,908 shares of the real estate investment trust’s stock valued at $1,114,687,000 after purchasing an additional 357,060 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Prologis by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 11,499,737 shares of the real estate investment trust’s stock valued at $1,023,302,000 after purchasing an additional 626,534 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Prologis by 45.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 11,373,566 shares of the real estate investment trust’s stock valued at $1,013,841,000 after purchasing an additional 3,533,938 shares during the last quarter. 87.83% of the stock is owned by institutional investors.
In other news, Director Jeffrey L. Skelton sold 6,762 shares of Prologis stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.20, for a total transaction of $603,170.40. Following the completion of the sale, the director now owns 54,791 shares in the company, valued at approximately $4,887,357.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.93% of the stock is owned by insiders.
Shares of NYSE:PLD traded up $1.15 during trading on Friday, hitting $87.55. 1,264,890 shares of the company’s stock were exchanged, compared to its average volume of 3,112,515. Prologis Inc has a 1-year low of $59.82 and a 1-year high of $99.79. The firm has a 50-day moving average price of $86.26 and a two-hundred day moving average price of $87.86. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm has a market cap of $63.81 billion, a P/E ratio of 33.42, a PEG ratio of 3.38 and a beta of 0.97.
Prologis (NYSE:PLD) last issued its quarterly 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 return on equity of 6.00% and a net margin of 48.50%. The business had revenue of $878.81 million for the quarter, compared to analyst estimates of $801.54 million. During the same quarter in the prior year, the firm earned $0.73 EPS. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. As a group, research analysts predict that Prologis Inc will post 3.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, June 15th. Prologis’s dividend payout ratio is 70.09%.
PLD has been the subject of several analyst reports. Citigroup cut their price target on shares of Prologis from $105.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. KeyCorp lifted their price target on shares of Prologis from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Morgan Stanley cut their price target on shares of Prologis from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $102.00 target price on shares of Prologis in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus boosted their target price on shares of Prologis from $76.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $94.80.
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.
Featured Article: Understanding Relative Strength Index
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.