Avantax Advisory Services Inc. lifted its position in Prologis, Inc. (NYSE:PLD – Get Rating) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,838 shares of the real estate investment trust’s stock after acquiring an additional 192 shares during the period. Avantax Advisory Services Inc.’s holdings in Prologis were worth $695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Prologis by 9.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 47,860 shares of the real estate investment trust’s stock worth $5,631,000 after acquiring an additional 4,062 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Prologis in the second quarter worth approximately $564,000. Royal London Asset Management Ltd. boosted its stake in shares of Prologis by 1.8% in the second quarter. Royal London Asset Management Ltd. now owns 328,770 shares of the real estate investment trust’s stock worth $38,686,000 after acquiring an additional 5,714 shares during the last quarter. Core Alternative Capital lifted its position in Prologis by 46.6% during the third quarter. Core Alternative Capital now owns 727 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 231 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its position in Prologis by 6.9% during the second quarter. King Luther Capital Management Corp now owns 8,230 shares of the real estate investment trust’s stock worth $968,000 after buying an additional 529 shares in the last quarter. 75.84% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently commented on PLD shares. Evercore ISI lifted their price objective on Prologis to $121.00 in a research report on Tuesday, November 15th. Raymond James reduced their price objective on Prologis from $160.00 to $130.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 18th. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a research report on Friday. Bank of America started coverage on Prologis in a research report on Monday, October 24th. They set a “buy” rating and a $140.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on Prologis from $172.00 to $154.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $142.50.
Prologis Stock Up 1.3 %
Prologis (NYSE:PLD – Get Rating) last issued its earnings results on Wednesday, January 18th. The real estate investment trust reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.46 billion. Prologis had a return on equity of 7.71% and a net margin of 56.33%. The company’s revenue for the quarter was up 37.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 EPS. Equities research analysts expect that Prologis, Inc. will post 5.53 earnings per share for the current year.
Prologis Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Monday, December 19th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Friday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 72.64%.
Insider Buying and Selling at Prologis
In related news, Director David P. Oconnor bought 9,000 shares of the stock in a transaction on Monday, November 28th. The shares were purchased at an average price of $114.13 per share, for a total transaction of $1,027,170.00. Following the acquisition, the director now owns 9,000 shares in the company, valued at $1,027,170. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by insiders.
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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