Prologis, Inc. (NYSE:PLD) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its position in Prologis, Inc. (NYSE:PLD) by 62.8% during the third quarter, Holdings Channel.com reports. The fund owned 1,356 shares of the real estate investment trust’s stock after purchasing an additional 523 shares during the quarter. First Horizon Advisors Inc.’s holdings in Prologis were worth $170,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PLD. Financial Management Professionals Inc. boosted its holdings in 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 last quarter. Strategic Blueprint LLC acquired a new position in shares of Prologis during the second quarter worth about $30,000. Benjamin Edwards Inc. acquired a new position in shares of Prologis during the third quarter worth about $33,000. TCI Wealth Advisors Inc. lifted its stake in shares of Prologis by 26.0% during the third quarter. TCI Wealth Advisors Inc. now owns 339 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 70 shares in the last quarter. Finally, Albion Financial Group UT acquired a new position in shares of Prologis during the second quarter worth about $48,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.

In other Prologis news, CEO Hamid R. Moghadam sold 14,355 shares of the company’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $144.64, for a total value of $2,076,307.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hamid R. Moghadam sold 305,645 shares of the company’s stock in a transaction that occurred on Friday, October 22nd. The stock was sold at an average price of $144.24, for a total value of $44,086,234.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 323,335 shares of company stock valued at $46,681,516. Insiders own 0.87% of the company’s stock.

Several research analysts recently commented on the company. BTIG Research boosted their price target on Prologis from $146.00 to $161.00 and gave the stock a “buy” rating in a research note on Wednesday, October 20th. Royal Bank of Canada boosted their price target on Prologis from $144.00 to $164.00 and gave the stock an “outperform” rating in a research note on Monday, November 8th. Raymond James boosted their price target on Prologis from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research note on Monday. Morgan Stanley boosted their price target on Prologis from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 15th. Finally, Wells Fargo & Company boosted their price objective on Prologis from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 19th. Two equities research 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $152.07.

NYSE:PLD opened at $153.15 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $156.33 and a 200-day moving average of $140.30. The firm has a market capitalization of $113.23 billion, a PE ratio of 57.79, a price-to-earnings-growth ratio of 4.10 and a beta of 0.81. Prologis, Inc. has a 52 week low of $94.14 and a 52 week high of $169.93.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.06). The business had revenue of $1.04 billion for 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 business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, analysts predict that Prologis, Inc. will post 4.12 EPS for the current fiscal year.

The firm also recently disclosed 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 of this dividend was Monday, December 13th. This represents a $2.52 annualized dividend and a dividend yield of 1.65%. Prologis’s dividend payout ratio is presently 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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