Transcend Capital Advisors LLC Increases Position in Prologis, Inc. (NYSE:PLD)

Transcend Capital Advisors LLC increased its stake in Prologis, Inc. (NYSE:PLDGet Rating) by 8.0% in the 2nd quarter, Holdings Channel reports. The fund owned 2,732 shares of the real estate investment trust’s stock after buying an additional 203 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Prologis were worth $321,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. American National Bank purchased a new position in Prologis in the first quarter worth $26,000. William Allan LLC purchased a new stake in Prologis during the fourth quarter valued at about $27,000. M&R Capital Management Inc. boosted its position in Prologis by 245.1% during the first quarter. M&R Capital Management Inc. now owns 176 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 125 shares during the period. MCF Advisors LLC purchased a new stake in Prologis during the first quarter valued at about $35,000. Finally, Financial Management Professionals Inc. boosted its position in Prologis by 43.8% during the first quarter. Financial Management Professionals Inc. now owns 220 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 67 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE PLD opened at $108.55 on Thursday. Prologis, Inc. has a fifty-two week low of $106.46 and a fifty-two week high of $174.54. The company has a 50 day simple moving average of $127.17 and a two-hundred day simple moving average of $135.68. The company has a market capitalization of $80.37 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.42 and a beta of 0.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.42 and a current ratio of 0.42.

Prologis (NYSE:PLDGet Rating) last announced its earnings results on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share 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 business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $1.01 EPS. Prologis’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts expect that Prologis, Inc. will post 5.17 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, September 14th. Prologis’s payout ratio is 63.20%.

Analyst Upgrades and Downgrades

PLD has been the subject of several analyst reports. Evercore ISI cut their price target on shares of Prologis from $134.00 to $133.00 and set an “in-line” rating for the company in a research report on Monday. Jefferies Financial Group cut their price target on shares of Prologis from $174.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Wells Fargo & Company increased their target price on shares of Prologis from $160.00 to $163.00 and gave the stock an “overweight” rating in a report on Thursday, August 11th. Barclays dropped their target price on shares of Prologis from $190.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, July 21st. Finally, 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 report on Wednesday, August 24th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $173.31.

Prologis Profile

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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.

See Also

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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