Ashburton Jersey Ltd cut its position in shares of Prologis Inc. (NYSE:PLD) by 23.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,033 shares of the company’s stock after selling 6,612 shares during the period. Ashburton Jersey Ltd’s holdings in Prologis were worth $1,080,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of PLD. Creative Planning raised its stake in shares of 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. Meeder Asset Management Inc. raised its stake in shares of Prologis by 1,589.2% in the first quarter. Meeder Asset Management Inc. now owns 3,767 shares of the company’s stock worth $167,000 after buying an additional 3,544 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of Prologis by 13.9% in the second quarter. Checchi Capital Advisers LLC now owns 5,258 shares of the company’s stock worth $258,000 after buying an additional 643 shares during the period. Commonwealth Equity Services Inc raised its stake in shares of 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, BKD Wealth Advisors LLC raised its stake in shares of Prologis by 1.1% in the second quarter. BKD Wealth Advisors LLC now owns 6,354 shares of the company’s stock worth $312,000 after buying an additional 68 shares during the period. Institutional investors own 99.83% of the company’s stock.
Prologis Inc. (NYSE:PLD) traded up 0.46% during midday trading on Wednesday, reaching $52.31. The company’s stock had a trading volume of 2,217,176 shares. The company has a market cap of $27.56 billion, a PE ratio of 31.94 and a beta of 1.31. The stock has a 50-day moving average price of $52.34 and a 200 day moving average price of $50.00. Prologis Inc. has a 12 month low of $35.25 and a 12 month high of $54.87.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.21%. Prologis’s payout ratio is currently 103.07%.
A number of analysts recently issued reports on the company. Citigroup Inc. lifted their target price on Prologis from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. BTIG Research assumed coverage on Prologis in a research report on Thursday, August 25th. They issued a “buy” rating and a $60.00 target price on the stock. Wells Fargo & Co. reaffirmed a “neutral” rating on shares of Prologis in a research report on Sunday, September 4th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $55.00 target price on shares of Prologis in a research report on Wednesday, July 20th. Finally, Evercore ISI raised Prologis from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $50.86.
In related news, CEO Hamid R. Moghadam sold 446,991 shares of Prologis stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $54.35, for a total value of $24,293,960.85. Following the completion of the transaction, the chief executive officer now directly owns 446,991 shares in the company, valued at approximately $24,293,960.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary E. Anderson sold 33,043 shares of Prologis stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $54.28, for a total transaction of $1,793,574.04. The disclosure for this sale can be found here. Insiders own 1.29% of the company’s stock.
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.
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