Louisiana State Employees Retirement System lowered its position in shares of Prologis Inc. (NYSE:PLD) by 1.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,500 shares of the company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Prologis were worth $1,692,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Daiwa Securities Group Inc. boosted its stake in Prologis by 106.2% in the second quarter. Daiwa Securities Group Inc. now owns 15,437,311 shares of the company’s stock worth $757,046,000 after buying an additional 7,950,874 shares during the period. Creative Planning boosted its stake in Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in Prologis by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 448,796 shares of the company’s stock worth $22,009,000 after buying an additional 6,003 shares during the period. Commonwealth Equity Services Inc boosted its stake in Prologis by 19.9% in the first quarter. Commonwealth Equity Services Inc now owns 6,559 shares of the company’s stock worth $290,000 after buying an additional 1,087 shares during the period. Finally, Chilton Capital Management LLC boosted its stake in Prologis by 12.0% in the first quarter. Chilton Capital Management LLC now owns 253,656 shares of the company’s stock worth $11,207,000 after buying an additional 27,275 shares during the period. Institutional investors own 99.83% of the company’s stock.
Shares of Prologis Inc. (NYSE:PLD) traded up 0.20% during trading on Friday, reaching $54.50. The company had a trading volume of 2,466,335 shares. The stock’s 50-day moving average price is $53.29 and its 200-day moving average price is $48.85. The company has a market capitalization of $28.72 billion, a PE ratio of 33.27 and a beta of 1.32. Prologis Inc. has a 52 week low of $35.25 and a 52 week high of $54.87.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Prologis had a return on equity of 4.76% and a net margin of 35.66%. The firm earned $602 million during the quarter, compared to analyst estimates of $221.07 million. During the same quarter in the previous year, the business earned $0.14 EPS. On average, equities analysts expect that Prologis Inc. will post ($0.27) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.08%. Prologis’s dividend payout ratio is presently 103.07%.
A number of analysts recently commented on PLD shares. Wells Fargo & Co. reiterated a “neutral” rating on shares of Prologis in a research report on Sunday, September 4th. Capital One Financial Corp. cut Prologis from an “equal weight” rating to an “underweight” rating and set a $48.00 price objective for the company. in a research report on Monday, August 8th. Credit Suisse Group AG cut Prologis from an “outperform” rating to a “neutral” rating and set a $48.00 price objective for the company. in a research report on Wednesday, July 20th. BTIG Research started coverage on Prologis in a research report on Thursday, August 25th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Bank of America Corp. cut Prologis from a “buy” rating to a “neutral” rating in a research report on Friday, June 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $50.26.
In related news, CEO Gary E. Anderson sold 33,043 shares of Prologis stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $54.28, for a total value of $1,793,574.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hamid R. Moghadam sold 37,673 shares of Prologis stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $51.01, for a total value of $1,921,699.73. Following the completion of the transaction, the chief executive officer now owns 37,673 shares of the company’s stock, valued at approximately $1,921,699.73. The disclosure for this sale can be found here. 1.29% of the stock is owned by corporate insiders.
Prologis Company Profile
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.