Prologis, Inc. (NYSE:PLD) Stake Lifted by Adelante Capital Management LLC
Adelante Capital Management LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 3.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,793,285 shares of the real estate investment trust’s stock after acquiring an additional 61,916 shares during the quarter. Prologis accounts for about 6.0% of Adelante Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Adelante Capital Management LLC owned 0.34% of Prologis worth $105,158,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in PLD. ETF Managers Group LLC purchased a new position in shares of Prologis during the 2nd quarter worth $193,000. Janus Henderson Group PLC raised its holdings in Prologis by 2,672.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,985,678 shares of the real estate investment trust’s stock valued at $116,440,000 after buying an additional 1,914,058 shares during the period. Flinton Capital Management LLC raised its holdings in Prologis by 15.1% in the 2nd quarter. Flinton Capital Management LLC now owns 253,056 shares of the real estate investment trust’s stock valued at $14,839,000 after buying an additional 33,248 shares during the period. Capital World Investors raised its holdings in Prologis by 181.4% in the 2nd quarter. Capital World Investors now owns 6,640,000 shares of the real estate investment trust’s stock valued at $389,370,000 after buying an additional 4,280,000 shares during the period. Finally, Miles Capital Inc. raised its holdings in Prologis by 1.5% in the 2nd quarter. Miles Capital Inc. now owns 10,345 shares of the real estate investment trust’s stock valued at $607,000 after buying an additional 157 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.
Prologis, Inc. (NYSE:PLD) traded up 0.20% during trading on Friday, hitting $65.21. The stock had a trading volume of 1,696,805 shares. The firm’s 50 day moving average is $64.01 and its 200 day moving average is $58.85. The firm has a market cap of $34.68 billion, a price-to-earnings ratio of 29.27 and a beta of 0.92. Prologis, Inc. has a 1-year low of $45.93 and a 1-year high of $65.63.
Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.06. The company had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576.00 million. Prologis had a return on equity of 6.65% and a net margin of 43.99%. Prologis’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. On average, analysts anticipate that Prologis, Inc. will post ($0.27) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, September 15th. Prologis’s payout ratio is currently 79.28%.
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A number of analysts have issued reports on PLD shares. BidaskClub downgraded Prologis from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Bank of America Corporation raised Prologis from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $65.00 in a report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $60.00 price target (up from $54.00) on shares of Prologis in a report on Sunday, June 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price target on shares of Prologis in a report on Thursday, July 6th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $64.00 price target (up from $61.00) on shares of Prologis in a report on Friday, July 21st. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $62.31.
In other Prologis news, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the completion of the sale, the director now directly owns 66,078 shares in the company, valued at $4,055,867.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.31% of the company’s stock.
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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