Fort Washington Investment Advisors Inc. OH trimmed its position in Prologis, Inc. (NYSE:PLD) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,857 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Prologis were worth $2,491,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Financial Management Professionals Inc. lifted its stake in shares of Prologis by 147.7% in the third quarter. Financial Management Professionals Inc. now owns 218 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 130 shares during the last quarter. Strategic Blueprint LLC acquired a new stake in shares of Prologis in the second quarter worth $30,000. Benjamin Edwards Inc. acquired a new stake in shares of Prologis in the third quarter worth $33,000. TCI Wealth Advisors Inc. lifted its stake in shares of Prologis by 26.0% in the third quarter. TCI Wealth Advisors Inc. now owns 339 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 70 shares during the last quarter. Finally, Albion Financial Group UT acquired a new stake in shares of Prologis in the second quarter worth $48,000. Institutional investors and hedge funds own 92.23% of the company’s stock.
Shares of Prologis stock opened at $153.73 on Friday. The firm has a market capitalization of $113.66 billion, a PE ratio of 58.01, a price-to-earnings-growth ratio of 5.07 and a beta of 0.81. 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 fifty day moving average price is $155.82 and its two-hundred day moving average price is $139.43. Prologis, Inc. has a 52-week low of $93.08 and a 52-week high of $169.93.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Tuesday, December 14th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.64%. The ex-dividend date was Monday, December 13th. Prologis’s dividend payout ratio (DPR) is presently 95.09%.
In other news, CEO Hamid R. Moghadam sold 305,645 shares of the company’s stock in a transaction dated Friday, October 22nd. The shares were sold at an average price of $144.24, for a total value of $44,086,234.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hamid R. Moghadam sold 14,355 shares of the company’s stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $144.64, for a total transaction of $2,076,307.20. The disclosure for this sale can be found here. Insiders sold a total of 323,335 shares of company stock worth $46,681,516 in the last three months. Insiders own 0.87% of the company’s stock.
A number of analysts have recently weighed in on PLD shares. BTIG Research boosted their price objective on shares of Prologis from $146.00 to $161.00 and gave the stock a “buy” rating in a research note on Wednesday, October 20th. The Goldman Sachs Group upgraded shares of Prologis from a “buy” rating to a “conviction-buy” rating and upped their target price for the company from $166.00 to $180.00 in a research note on Thursday, October 21st. Raymond James upped their target price on shares of Prologis from $143.00 to $155.00 and gave the company a “strong-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. 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 analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $150.40.
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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