Healthcare of Ontario Pension Plan Trust Fund Sells 159,754 Shares of Prologis, Inc. (NYSE:PLD)

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,286,946 shares of the real estate investment trust’s stock after selling 159,754 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.17% of Prologis worth $161,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Financial Management Professionals Inc. raised 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 valued at $27,000 after acquiring an additional 130 shares during the period. Strategic Blueprint LLC purchased a new position in Prologis in the 2nd quarter worth about $30,000. Benjamin Edwards Inc. purchased a new position in Prologis in the 3rd quarter worth about $33,000. TCI Wealth Advisors Inc. increased its stake in Prologis by 26.0% in the 3rd 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 period. Finally, Albion Financial Group UT purchased a new position in Prologis in the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 92.23% of the company’s stock.

PLD stock traded up $0.74 during trading on Wednesday, reaching $153.73. The company had a trading volume of 49,412 shares, compared to its average volume of 3,547,292. The firm has a 50-day simple moving average of $156.11 and a 200-day simple moving average of $140.12. The company has a market cap of $113.66 billion, a price-to-earnings ratio of 58.17, 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 quick ratio of 0.41 and a current ratio of 0.41. Prologis, Inc. has a twelve month low of $93.08 and a twelve month high of $169.93.

Prologis (NYSE:PLD) last released its earnings results on Thursday, October 14th. The real estate investment trust reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Prologis had a return on equity of 5.42% and a net margin of 42.95%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business earned $0.90 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 4.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Tuesday, December 14th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Monday, December 13th. Prologis’s dividend payout ratio is presently 95.09%.

In related news, CEO Hamid R. Moghadam sold 305,645 shares of the firm’s stock in a transaction on Friday, October 22nd. The shares were sold at an average price of $144.24, for a total transaction of $44,086,234.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hamid R. Moghadam sold 14,355 shares of the firm’s stock in a transaction on 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 over the last ninety days. Insiders own 0.87% of the company’s stock.

Several research firms recently commented on PLD. Royal Bank of Canada raised their price target on shares of Prologis from $144.00 to $164.00 and gave the stock an “outperform” rating in a research note on Monday, November 8th. BTIG Research increased their target price on shares of Prologis from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Wednesday, October 20th. Morgan Stanley increased their target price on shares of Prologis from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, December 15th. The Goldman Sachs Group upgraded shares of Prologis from a “buy” rating to a “conviction-buy” rating and raised their price target for the company from $166.00 to $180.00 in a report on Thursday, October 21st. Finally, Raymond James raised their price target on shares of Prologis from $155.00 to $180.00 and gave the company a “strong-buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $152.07.

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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