Teachers Insurance & Annuity Association of America lowered its holdings in Prologis Inc (NYSE:PLD) by 12.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 510,081 shares of the real estate investment trust’s stock after selling 73,046 shares during the quarter. Prologis comprises approximately 4.8% of Teachers Insurance & Annuity Association of America’s investment portfolio, making the stock its 2nd largest holding. Teachers Insurance & Annuity Association of America owned about 0.08% of Prologis worth $40,857,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. FMR LLC grew its stake in shares of Prologis by 3.9% during the 1st quarter. FMR LLC now owns 20,743,807 shares of the real estate investment trust’s stock worth $1,492,516,000 after acquiring an additional 769,477 shares during the period. Principal Financial Group Inc. raised its stake in Prologis by 8.1% in the first quarter. Principal Financial Group Inc. now owns 13,569,700 shares of the real estate investment trust’s stock valued at $976,340,000 after purchasing an additional 1,021,517 shares in the last quarter. Northern Trust Corp raised its stake in Prologis by 3.7% in the second quarter. Northern Trust Corp now owns 11,252,225 shares of the real estate investment trust’s stock valued at $901,303,000 after purchasing an additional 397,397 shares in the last quarter. Geode Capital Management LLC lifted its position in Prologis by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 9,243,695 shares of the real estate investment trust’s stock valued at $541,949,000 after purchasing an additional 636,563 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Prologis by 3.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,731,007 shares of the real estate investment trust’s stock valued at $619,254,000 after purchasing an additional 235,140 shares during the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. KeyCorp increased their price target on shares of Prologis from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Evercore ISI set a $80.00 target price on shares of Prologis and gave the stock a “hold” rating in a research report on Monday, August 12th. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Deutsche Bank raised their price target on Prologis from $74.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Goldman Sachs Group began coverage on Prologis in a research note on Wednesday, May 15th. They set a “conviction-buy” rating for the company. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Prologis has a consensus rating of “Buy” and an average target price of $79.68.
Shares of Prologis stock traded down $0.79 during trading on Wednesday, reaching $82.48. The company’s stock had a trading volume of 113,213 shares, compared to its average volume of 1,900,981. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.43. Prologis Inc has a 52-week low of $55.21 and a 52-week high of $85.76. The firm’s 50-day moving average is $82.40 and its two-hundred day moving average is $77.34. The company has a market cap of $52.00 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 4.55 and a beta of 1.03.
Prologis (NYSE:PLD) last issued its earnings results on Monday, July 15th. The real estate investment trust reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.16). Prologis had a return on equity of 6.55% and a net margin of 55.04%. The business had revenue of $700.69 million during the quarter, compared to analysts’ expectations of $704.19 million. During the same quarter in the previous year, the business earned $0.71 EPS. Prologis’s revenue for the quarter was up 28.6% compared to the same quarter last year. On average, equities research analysts anticipate that Prologis Inc will post 3.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be issued a $0.53 dividend. The ex-dividend date is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 2.57%. Prologis’s dividend payout ratio is currently 69.97%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 768 million square feet (71 million square meters) in 19 countries.
Featured Story: What is a Special Dividend?
Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis Inc (NYSE:PLD).
Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.