Gradient Investments LLC Has $84,000 Position in Prologis, Inc. (NYSE:PLD)

Gradient Investments LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLDGet Rating) by 98.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 711 shares of the real estate investment trust’s stock after selling 45,734 shares during the quarter. Gradient Investments LLC’s holdings in Prologis were worth $84,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PLD. Renaissance Technologies LLC acquired a new stake in shares of Prologis during the fourth quarter worth approximately $7,475,000. Gotham Asset Management LLC boosted its holdings in shares of Prologis by 388.7% during the fourth quarter. Gotham Asset Management LLC now owns 19,783 shares of the real estate investment trust’s stock worth $3,331,000 after purchasing an additional 15,735 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in shares of Prologis by 7.1% during the fourth quarter. Siemens Fonds Invest GmbH now owns 17,627 shares of the real estate investment trust’s stock worth $2,961,000 after purchasing an additional 1,170 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Prologis by 24.2% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 17,031 shares of the real estate investment trust’s stock worth $2,868,000 after purchasing an additional 3,314 shares during the period. Finally, Glassman Wealth Services boosted its holdings in shares of Prologis by 16.4% during the fourth quarter. Glassman Wealth Services now owns 689 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 97 shares during the period. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on PLD shares. Barclays reduced their target price on shares of Prologis from $190.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, July 21st. Wells Fargo & Company lifted their target price on shares of Prologis from $160.00 to $163.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. Wolfe Research upgraded shares of Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, August 24th. Raymond James reduced their target price on shares of Prologis from $190.00 to $160.00 in a research note on Thursday, July 21st. Finally, Jefferies Financial Group reduced their target price on shares of Prologis from $174.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Buy” and a consensus price target of $173.31.

Prologis Trading Down 1.7 %

NYSE:PLD opened at $110.93 on Wednesday. Prologis, Inc. has a 12 month low of $106.46 and a 12 month high of $174.54. The firm has a market cap of $82.13 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.44 and a beta of 0.88. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $127.61 and its 200-day moving average is $136.04.

Prologis (NYSE:PLDGet Rating) last released its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.30). Prologis had a net margin of 75.72% and a return on equity of 9.85%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business earned $1.01 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Prologis, Inc. will post 5.17 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, September 14th. Prologis’s dividend payout ratio (DPR) is currently 63.20%.

About Prologis

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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