Pacific Heights Asset Management LLC lowered its position in Prologis Inc. (NYSE:PLD) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 950,000 shares of the company’s stock after selling 50,000 shares during the period. Prologis makes up 4.2% of Pacific Heights Asset Management LLC’s holdings, making the stock its 4th largest position. Pacific Heights Asset Management LLC’s holdings in Prologis were worth $46,588,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in PLD. BKD Wealth Advisors LLC boosted its stake in shares of Prologis by 1.1% in the second quarter. BKD Wealth Advisors LLC now owns 6,354 shares of the company’s stock worth $312,000 after buying an additional 68 shares during the period. 1st Global Advisors Inc. boosted its stake in shares of Prologis by 0.7% in the second quarter. 1st Global Advisors Inc. now owns 22,213 shares of the company’s stock worth $1,089,000 after buying an additional 155 shares during the period. Creative Planning boosted its stake in shares of Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares during the period. Conning Inc. boosted its stake in shares of Prologis by 2.4% in the second quarter. Conning Inc. now owns 14,299 shares of the company’s stock worth $701,000 after buying an additional 330 shares during the period. Finally, Checchi Capital Advisers LLC boosted its stake in shares of Prologis by 13.9% in the second quarter. Checchi Capital Advisers LLC now owns 5,258 shares of the company’s stock worth $258,000 after buying an additional 643 shares during the period. 99.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Prologis Inc. (NYSE:PLD) traded down 1.70% during midday trading on Monday, hitting $52.63. 1,959,404 shares of the company’s stock traded hands. Prologis Inc. has a 1-year low of $35.25 and a 1-year high of $54.87. The company has a 50 day moving average price of $53.28 and a 200 day moving average price of $49.28. The firm has a market capitalization of $27.73 billion, a price-to-earnings ratio of 32.13 and a beta of 1.30.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, July 19th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. Prologis had a net margin of 35.66% and a return on equity of 4.76%. The business had revenue of $602 million for the quarter, compared to analyst estimates of $221.07 million. During the same period in the previous year, the business earned $0.14 EPS. Equities analysts anticipate that Prologis Inc. will post ($0.27) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, September 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.19%. Prologis’s dividend payout ratio (DPR) is currently 103.07%.
A number of analysts recently weighed in on the stock. Deutsche Bank AG cut shares of Prologis from a “buy” rating to a “hold” rating and upped their price target for the stock from $48.00 to $50.00 in a research report on Tuesday, June 21st. RBC Capital Markets reissued an “outperform” rating and issued a $55.00 price objective (up from $48.00) on shares of Prologis in a research report on Tuesday, July 26th. Barclays PLC upped their price objective on shares of Prologis from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, July 26th. Cantor Fitzgerald reissued a “buy” rating and issued a $55.00 price objective on shares of Prologis in a research report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Prologis in a research report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $50.26.
In other news, CEO Hamid R. Moghadam sold 37,673 shares of Prologis stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $51.01, for a total transaction of $1,921,699.73. Following the sale, the chief executive officer now directly owns 37,673 shares in the company, valued at approximately $1,921,699.73. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary E. Anderson sold 33,043 shares of Prologis stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $54.28, for a total transaction of $1,793,574.04. The disclosure for this sale can be found here. Insiders own 1.29% of the company’s stock.
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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