Janney Montgomery Scott LLC lowered its position in Prologis Inc. (NYSE:PLD) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 149,621 shares of the company’s stock after selling 1,892 shares during the period. Janney Montgomery Scott LLC’s holdings in Prologis were worth $6,422,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of PLD. Daiwa Securities Group Inc. boosted its stake in shares of 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 in the last quarter. Creative Planning boosted 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 in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of 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 in the last quarter. Commonwealth Equity Services Inc boosted 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 in the last quarter. Finally, Chilton Capital Management LLC boosted its stake in shares of 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 in the last quarter. Institutional investors own 99.83% of the company’s stock.
Prologis Inc. (NYSE:PLD) traded up 0.61% during mid-day trading on Friday, reaching $54.72. The company had a trading volume of 1,518,129 shares. The firm has a market capitalization of $28.83 billion, a price-to-earnings ratio of 33.41 and a beta of 1.32. The firm has a 50-day moving average price of $53.27 and a 200 day moving average price of $48.76. Prologis Inc. has a 12-month low of $35.25 and a 12-month high of $54.87.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Prologis had a net margin of 35.66% and a return on equity of 4.76%. The firm earned $602 million during the quarter, compared to the consensus estimate of $221.07 million. During the same period last year, the firm earned $0.14 EPS. Analysts expect that Prologis Inc. will post ($0.27) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, September 15th. Prologis’s payout ratio is 103.07%.
PLD has been the subject of a number of research analyst reports. Wells Fargo & Co. restated a “neutral” rating on shares of Prologis in a 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 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 report on Wednesday, July 20th. BTIG Research assumed coverage on Prologis in a 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 note on Friday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $50.26.
In other news, CEO Hamid R. Moghadam sold 349,668 shares of Prologis stock in a transaction on Friday, July 15th. The shares were sold at an average price of $51.14, for a total transaction of $17,882,021.52. Following the completion of the sale, the chief executive officer now directly owns 349,668 shares of the company’s stock, valued at approximately $17,882,021.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hamid R. Moghadam sold 37,673 shares of Prologis stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $51.01, for a total transaction of $1,921,699.73. Following the sale, the chief executive officer now directly owns 37,673 shares of the company’s stock, valued at $1,921,699.73. The disclosure for this sale can be found here. 1.29% of the stock is currently owned by company 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.
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