Alyeska Investment Group L.P. Invests $6.25 Million in Prologis, Inc. (NYSE:PLD)

Alyeska Investment Group L.P. bought a new position in shares of Prologis, Inc. (NYSE:PLD) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 58,911 shares of the real estate investment trust’s stock, valued at approximately $6,245,000.

Several other hedge funds have also made changes to their positions in PLD. Norges Bank acquired a new position in shares of Prologis during the 4th quarter worth approximately $686,317,000. Goldman Sachs Group Inc. raised its stake in Prologis by 25.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,968,844 shares of the real estate investment trust’s stock valued at $632,698,000 after purchasing an additional 1,226,493 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Prologis by 84.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,404,117 shares of the real estate investment trust’s stock valued at $239,594,000 after purchasing an additional 1,103,508 shares during the last quarter. Morgan Stanley raised its stake in Prologis by 21.4% in the 4th quarter. Morgan Stanley now owns 6,176,309 shares of the real estate investment trust’s stock valued at $615,531,000 after purchasing an additional 1,090,725 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Prologis by 306.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,305,482 shares of the real estate investment trust’s stock valued at $130,104,000 after purchasing an additional 984,591 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

In related news, Director Lydia H. Kennard sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $118.00, for a total transaction of $1,180,000.00. Following the completion of the transaction, the director now directly owns 32,773 shares in the company, valued at approximately $3,867,214. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Several research firms recently commented on PLD. Wolfe Research began coverage on Prologis in a research note on Monday, June 14th. They issued a “peer perform” rating and a $133.00 price objective for the company. Morgan Stanley increased their price objective on Prologis from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, July 15th. Robert W. Baird increased their price objective on Prologis from $108.00 to $124.00 and gave the company a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on Prologis from $116.00 to $126.00 and gave the company a “buy” rating in a report on Friday, June 4th. Finally, TheStreet upgraded Prologis from a “c+” rating to a “b” rating in a report on Friday, April 30th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Prologis currently has an average rating of “Buy” and a consensus price target of $125.21.

NYSE PLD opened at $126.90 on Thursday. The stock has a market cap of $93.88 billion, a PE ratio of 61.01, a PEG ratio of 4.40 and a beta of 0.74. The company has a current ratio of 0.20, a quick ratio of 0.59 and a debt-to-equity ratio of 0.47. Prologis, Inc. has a twelve month low of $93.08 and a twelve month high of $128.87. The business’s fifty day simple moving average is $121.53.

Prologis (NYSE:PLD) last released its quarterly earnings results on Sunday, July 18th. The real estate investment trust reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.37. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Prologis had a return on equity of 4.27% and a net margin of 34.54%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 EPS. Analysts expect that Prologis, Inc. will post 4.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Wednesday, June 16th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Tuesday, June 15th. Prologis’s dividend payout ratio is presently 66.32%.

Prologis Company 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)

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