Continental Investors Services Inc. Purchases New Shares in Prologis, Inc. (NYSE:PLD)

Continental Investors Services Inc. purchased a new stake in Prologis, Inc. (NYSE:PLD – Get Rating) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,935 shares of the real estate investment trust’s stock, valued at approximately $368,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Prologis by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 97,683,583 shares of the real estate investment trust’s stock worth $9,924,652,000 after purchasing an additional 432,945 shares during the last quarter. BlackRock Inc. raised its holdings in Prologis by 1.0% during the 3rd quarter. BlackRock Inc. now owns 74,679,148 shares of the real estate investment trust’s stock worth $7,587,402,000 after purchasing an additional 710,141 shares during the last quarter. FMR LLC raised its holdings in Prologis by 6.0% during the 2nd quarter. FMR LLC now owns 24,083,514 shares of the real estate investment trust’s stock worth $2,833,425,000 after purchasing an additional 1,361,120 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Prologis by 27.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 13,071,004 shares of the real estate investment trust’s stock worth $1,328,016,000 after purchasing an additional 2,823,799 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Prologis by 10.5% during the 3rd quarter. Nuveen Asset Management LLC now owns 10,522,211 shares of the real estate investment trust’s stock worth $1,069,056,000 after purchasing an additional 999,809 shares during the last quarter. 75.84% of the stock is owned by institutional investors.

Prologis Trading Down 3.4 %

NYSE:PLD opened at $116.03 on Friday. Prologis, Inc. has a twelve month low of $98.03 and a twelve month high of $174.54. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $124.51 and a two-hundred day moving average price of $116.61. The company has a market cap of $107.15 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 3.06 and a beta of 0.99.

Prologis (NYSE:PLD – Get Rating) last released its quarterly earnings results on Wednesday, January 18th. The real estate investment trust reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. Prologis had a return on equity of 7.71% and a net margin of 56.33%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm posted $1.12 EPS. The business’s revenue was up 37.2% on a year-over-year basis. As a group, analysts expect that Prologis, Inc. will post 5.52 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be given a dividend of $0.87 per share. The ex-dividend date is Thursday, March 16th. This represents a $3.48 dividend on an annualized basis and a yield of 3.00%. This is an increase from Prologis’s previous quarterly dividend of $0.79. Prologis’s dividend payout ratio is 72.64%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLD. Wells Fargo & Company boosted their price objective on Prologis to $141.00 in a report on Wednesday, December 14th. Morgan Stanley boosted their target price on Prologis from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, January 23rd. BMO Capital Markets boosted their target price on Prologis from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 30th. JPMorgan Chase & Co. lowered Prologis from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $124.00 to $130.00 in a research report on Friday, December 16th. Finally, Citigroup boosted their target price on Prologis to $140.00 in a research report on Wednesday, December 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

About Prologis

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Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.