Vident Investment Advisory LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 18.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,564 shares of the real estate investment trust’s stock after selling 11,689 shares during the period. Vident Investment Advisory LLC’s holdings in Prologis were worth $8,168,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. American National Bank acquired a new stake in Prologis during the first quarter worth approximately $26,000. William Allan LLC acquired a new stake in Prologis during the fourth quarter worth approximately $27,000. M&R Capital Management Inc. grew its position in Prologis by 245.1% during the first quarter. M&R Capital Management Inc. now owns 176 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 125 shares in the last quarter. MCF Advisors LLC acquired a new stake in Prologis during the first quarter worth approximately $35,000. Finally, Financial Management Professionals Inc. grew its position in Prologis by 43.8% during the first quarter. Financial Management Professionals Inc. now owns 220 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 94.01% of the company’s stock.
Analyst Upgrades and Downgrades
PLD has been the topic of a number of analyst reports. Raymond James reduced their price target on Prologis from $190.00 to $160.00 in a research report on Thursday, July 21st. Barclays reduced their target price on Prologis from $190.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, July 21st. Wolfe Research raised Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Wednesday, August 24th. Wells Fargo & Company raised their target price on Prologis from $160.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, August 11th. Finally, Evercore ISI set a $134.00 target price on Prologis in a report on Tuesday, July 19th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $173.38.
Prologis Trading Up 1.3 %
Prologis (NYSE:PLD – Get Rating) last released its quarterly earnings data on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.30). Prologis had a net margin of 75.72% and a return on equity of 9.85%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business earned $1.01 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts expect that Prologis, Inc. will post 5.17 EPS for the current fiscal year.
Prologis Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, September 14th. Prologis’s dividend payout ratio (DPR) is 63.20%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
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