Graypoint LLC Trims Holdings in Prologis, Inc. (NYSE:PLD)

Graypoint LLC cut its holdings in Prologis, Inc. (NYSE:PLD) by 8.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,704 shares of the real estate investment trust’s stock after selling 160 shares during the quarter. Graypoint LLC’s holdings in Prologis were worth $214,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Boston Private Wealth LLC grew its position in shares of Prologis by 3.3% in the 3rd quarter. Boston Private Wealth LLC now owns 16,660 shares of the real estate investment trust’s stock worth $2,090,000 after buying an additional 536 shares during the period. First Horizon Advisors Inc. boosted its stake in Prologis by 62.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,356 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 523 shares in the last quarter. We Are One Seven LLC boosted its stake in Prologis by 9.3% in the 3rd quarter. We Are One Seven LLC now owns 10,377 shares of the real estate investment trust’s stock worth $1,504,000 after purchasing an additional 885 shares in the last quarter. M&G Investment Management Ltd. boosted its stake in Prologis by 31.8% in the 3rd quarter. M&G Investment Management Ltd. now owns 202,534 shares of the real estate investment trust’s stock worth $25,317,000 after purchasing an additional 48,857 shares in the last quarter. Finally, Commerce Bank boosted its stake in Prologis by 22.8% in the 3rd quarter. Commerce Bank now owns 347,312 shares of the real estate investment trust’s stock worth $43,564,000 after purchasing an additional 64,441 shares in the last quarter. 92.23% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director William D. Zollars sold 1,380 shares of Prologis stock in a transaction on Monday, November 8th. The stock was sold at an average price of $146.20, for a total transaction of $201,756.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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. Insiders have sold a total of 323,335 shares of company stock valued at $46,681,516 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

PLD has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on shares of Prologis from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 19th. Morgan Stanley upped their price target on shares of Prologis from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 15th. 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. Raymond James upped their target price on shares of Prologis from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research note on Monday. Finally, 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. Two 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $152.07.

Prologis stock opened at $153.02 on Tuesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.47. Prologis, Inc. has a 12-month low of $93.08 and a 12-month high of $169.93. The firm has a 50 day moving average of $155.99 and a 200 day moving average of $139.90. The firm has a market capitalization of $113.13 billion, a price-to-earnings ratio of 57.74, a P/E/G ratio of 5.07 and a beta of 0.81.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Prologis had a net margin of 42.95% and a return on equity of 5.42%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. On average, analysts predict that Prologis, Inc. will post 4.12 EPS for the current 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 was Monday, December 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.65%. Prologis’s dividend payout ratio is currently 95.09%.

About Prologis

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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