Liberty Mutual Group Asset Management Inc. Sells 9,715 Shares of ProLogis, Inc. (PLD)

Liberty Mutual Group Asset Management Inc. cut its position in ProLogis, Inc. (NYSE:PLD) by 24.6% during the first quarter, Holdings Channel reports. The fund owned 29,755 shares of the real estate investment trust’s stock after selling 9,715 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in ProLogis were worth $1,543,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PLD. Vanguard Group Inc. raised its position in shares of ProLogis by 2.5% in the first quarter. Vanguard Group Inc. now owns 76,655,768 shares of the real estate investment trust’s stock worth $3,976,902,000 after buying an additional 1,873,351 shares during the last quarter. FMR LLC raised its position in shares of ProLogis by 9.4% in the first quarter. FMR LLC now owns 24,650,787 shares of the real estate investment trust’s stock worth $1,278,883,000 after buying an additional 2,127,092 shares during the last quarter. APG Asset Management US Inc. raised its position in shares of ProLogis by 0.7% in the first quarter. APG Asset Management US Inc. now owns 17,260,069 shares of the real estate investment trust’s stock worth $895,452,000 after buying an additional 117,972 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of ProLogis by 8.3% in the first quarter. JPMorgan Chase & Co. now owns 13,064,732 shares of the real estate investment trust’s stock worth $677,801,000 after buying an additional 996,367 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of ProLogis by 19.5% in the first quarter. Bank of New York Mellon Corp now owns 10,300,589 shares of the real estate investment trust’s stock worth $534,394,000 after buying an additional 1,683,348 shares during the last quarter. 96.66% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for ProLogis (NYSE:PLD)

Shares of ProLogis, Inc. (NYSE PLD) traded down 1.52% during midday trading on Tuesday, reaching $57.70. 893,290 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $55.81 and its 200-day moving average is $52.76. ProLogis, Inc. has a 12-month low of $45.93 and a 12-month high of $58.72. The stock has a market cap of $30.60 billion, a PE ratio of 25.62 and a beta of 0.95.

ProLogis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, April 18th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. ProLogis had a net margin of 47.15% and a return on equity of 6.66%. The business had revenue of $629.16 million for the quarter, compared to analysts’ expectations of $555.37 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that ProLogis, Inc. will post ($0.27) EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, June 14th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Monday, June 12th. ProLogis’s dividend payout ratio (DPR) is 78.57%.

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A number of equities analysts have recently commented on PLD shares. Zacks Investment Research raised shares of ProLogis from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Wednesday, June 7th. Evercore ISI increased their price target on shares of ProLogis from $58.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. BTIG Research reissued a “buy” rating and issued a $57.00 price target on shares of ProLogis in a report on Tuesday, April 11th. Citigroup Inc. increased their price target on shares of ProLogis from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, April 25th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $59.00 price target on shares of ProLogis in a report on Thursday, June 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. ProLogis has a consensus rating of “Buy” and a consensus price target of $55.51.

In other ProLogis news, insider Lori A. Palazzolo sold 6,540 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $53.95, for a total transaction of $352,833.00. Following the transaction, the insider now owns 3,315 shares in the company, valued at $178,844.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael S. Curless sold 20,429 shares of the business’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $54.49, for a total transaction of $1,113,176.21. Following the transaction, the insider now owns 102 shares in the company, valued at approximately $5,557.98. The disclosure for this sale can be found here. Insiders have sold 565,001 shares of company stock worth $31,723,862 in the last quarter. Company insiders own 1.31% of the company’s stock.

ProLogis Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PLD”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProLogis, Inc. (NYSE:PLD).

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