World Asset Management Inc Has $2.40 Million Stake in Prologis, Inc. (NYSE:PLD)

World Asset Management Inc decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,147 shares of the real estate investment trust’s stock after selling 1,365 shares during the period. World Asset Management Inc’s holdings in Prologis were worth $2,402,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PLD. TCI Wealth Advisors Inc. increased its holdings in shares of Prologis by 26.0% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 339 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 70 shares during the period. Hyman Charles D increased its holdings in shares of Prologis by 3.0% during the 3rd quarter. Hyman Charles D now owns 2,434 shares of the real estate investment trust’s stock worth $305,000 after purchasing an additional 70 shares during the period. West Family Investments Inc. increased its holdings in shares of Prologis by 3.5% during the 3rd quarter. West Family Investments Inc. now owns 2,156 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 73 shares during the period. Veracity Capital LLC increased its holdings in shares of Prologis by 3.8% during the 3rd quarter. Veracity Capital LLC now owns 2,073 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 75 shares during the period. Finally, Essex Savings Bank increased its stake in Prologis by 2.5% in the third quarter. Essex Savings Bank now owns 3,121 shares of the real estate investment trust’s stock valued at $420,000 after acquiring an additional 75 shares during the period. 92.39% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PLD traded down $0.33 during midday trading on Friday, hitting $152.82. The stock had a trading volume of 1,923 shares, compared to its average volume of 3,274,487. The firm has a market cap of $112.98 billion, a P/E ratio of 57.79, a price-to-earnings-growth ratio of 4.10 and a beta of 0.81. Prologis, Inc. has a fifty-two week low of $94.14 and a fifty-two week high of $169.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.41 and a quick ratio of 0.41. The company’s 50-day simple moving average is $156.33 and its 200 day simple moving average is $140.30.

Prologis (NYSE:PLD) last released its earnings results on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Prologis had a return on equity of 5.42% and a net margin of 42.95%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. Equities analysts expect that Prologis, Inc. will post 4.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Tuesday, December 14th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, December 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.65%. Prologis’s payout ratio is currently 95.09%.

In related news, CEO Hamid R. Moghadam sold 305,645 shares of Prologis stock in a transaction on Friday, October 22nd. The stock was sold at an average price of $144.24, for a total transaction of $44,086,234.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Zollars sold 1,955 shares of Prologis stock in a transaction on Wednesday, December 22nd. The stock was sold at an average price of $162.26, for a total value of $317,218.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 323,335 shares of company stock valued at $46,681,516. 0.87% of the stock is currently owned by corporate insiders.

A number of analysts recently weighed in on PLD shares. BTIG Research upped their target price on shares of Prologis from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Wednesday, October 20th. Royal Bank of Canada upped their target price on shares of Prologis from $144.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. Wells Fargo & Company upped their target price on shares of Prologis from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 19th. Morgan Stanley upped their target price on shares of Prologis from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, December 15th. Finally, Barclays upped their target price on shares of Prologis from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Tuesday, October 19th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $152.07.

Prologis Profile

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)