Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in Prologis Inc (NYSE:PLD)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Prologis Inc (NYSE:PLD) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,022 shares of the real estate investment trust’s stock after buying an additional 3,140 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Prologis were worth $6,152,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sandy Spring Bank acquired a new stake in shares of Prologis in the third quarter valued at approximately $33,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Prologis during the second quarter worth $39,000. HM Payson & Co. acquired a new stake in shares of Prologis during the second quarter worth $43,000. Covington Capital Management lifted its holdings in shares of Prologis by 57.2% during the third quarter. Covington Capital Management now owns 503 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 183 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Prologis during the first quarter worth $57,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

A number of equities research analysts have commented on the company. Wells Fargo & Co raised Prologis from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a report on Tuesday, December 10th. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Monday. BMO Capital Markets restated a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Prologis in a research report on Wednesday, November 6th. Stifel Nicolaus set a $95.00 price target on Prologis and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Barclays set a $92.00 price target on Prologis and gave the company a “buy” rating in a research report on Friday, October 11th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Prologis presently has a consensus rating of “Buy” and a consensus price target of $93.39.

Prologis stock traded up $0.10 during midday trading on Friday, reaching $96.00. 201,309 shares of the company were exchanged, compared to its average volume of 2,142,671. The company has a market capitalization of $59.35 billion, a price-to-earnings ratio of 38.87, a P/E/G ratio of 4.14 and a beta of 0.98. The firm’s 50-day simple moving average is $90.06 and its 200-day simple moving average is $86.45. Prologis Inc has a 1 year low of $64.33 and a 1 year high of $96.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.27 and a current ratio of 0.53.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $0.84 EPS for the quarter, hitting analysts’ consensus estimates of $0.84. The firm had revenue of $728.00 million during the quarter, compared to analysts’ expectations of $727.32 million. Prologis had a return on equity of 6.08% and a net margin of 47.23%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. On average, analysts forecast that Prologis Inc will post 3.7 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, December 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, December 18th. Prologis’s dividend payout ratio is presently 64.05%.

About Prologis

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.

Read More: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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