Man Group plc grew its holdings in Prologis Inc (NYSE:PLD) by 22.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,658 shares of the real estate investment trust’s stock after purchasing an additional 4,787 shares during the period. Man Group plc’s holdings in Prologis were worth $2,055,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. lifted its holdings in shares of Prologis by 8.8% in the second quarter. Cornerstone Advisors Inc. now owns 1,601 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 130 shares in the last quarter. Exane Derivatives raised its holdings in shares of Prologis by 18.8% during the second quarter. Exane Derivatives now owns 968 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 153 shares in the last quarter. Lincoln National Corp raised its holdings in shares of Prologis by 4.0% during the second quarter. Lincoln National Corp now owns 4,175 shares of the real estate investment trust’s stock worth $334,000 after acquiring an additional 159 shares in the last quarter. Altium Wealth Management LLC raised its holdings in shares of Prologis by 5.8% during the second quarter. Altium Wealth Management LLC now owns 3,440 shares of the real estate investment trust’s stock worth $276,000 after acquiring an additional 189 shares in the last quarter. Finally, Cetera Advisors LLC raised its holdings in shares of Prologis by 4.6% during the second quarter. Cetera Advisors LLC now owns 4,338 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.
In other Prologis news, insider Eugene F. Reilly sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the transaction, the insider now directly owns 10,685 shares in the company, valued at $873,178.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas S. Olinger sold 13,051 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total value of $1,073,444.75. Following the transaction, the chief financial officer now owns 20,667 shares in the company, valued at $1,699,860.75. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Prologis (NYSE:PLD) last posted its earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.16). Prologis had a net margin of 55.04% and a return on equity of 6.55%. The company had revenue of $700.69 million for the quarter, compared to the consensus estimate of $704.19 million. During the same quarter last year, the business earned $0.71 earnings per share. Prologis’s quarterly revenue was up 28.6% on a year-over-year basis. On average, equities analysts expect that Prologis Inc will post 3.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 2.48%. Prologis’s dividend payout ratio (DPR) is currently 69.97%.
Several analysts recently issued reports on PLD shares. ValuEngine lowered Prologis from a “buy” rating to a “hold” rating in a report on Wednesday. SunTrust Banks increased their price objective on Prologis from $81.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Citigroup set a $86.00 price objective on Prologis and gave the stock a “buy” rating in a report on Thursday, June 6th. Deutsche Bank increased their price objective on Prologis from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $85.00 price objective on shares of Prologis in a report on Wednesday, July 17th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $79.68.
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.
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