Fulton Breakefield Broenniman LLC acquired a new stake in Prologis Inc (NYSE:PLD) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,370 shares of the real estate investment trust’s stock, valued at approximately $211,000.
Other large investors also recently added to or reduced their stakes in the company. Sandy Spring Bank acquired a new position in shares of Prologis in the third quarter valued at $33,000. Prestige Wealth Management Group LLC acquired a new position in shares of Prologis in the second quarter valued at $39,000. Covington Capital Management boosted its position in shares of Prologis by 57.2% in the third quarter. Covington Capital Management now owns 503 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 183 shares during the period. HM Payson & Co. bought a new stake in shares of Prologis in the second quarter valued at about $43,000. Finally, Optimum Investment Advisors bought a new stake in shares of Prologis in the third quarter valued at about $60,000. Hedge funds and other institutional investors own 95.06% of the company’s stock.
PLD has been the subject of a number of recent research reports. Royal Bank of Canada set a $96.00 target price on shares of Prologis and gave the company a “buy” rating in a research report on Friday, October 18th. BTIG Research boosted their target price on shares of Prologis from to and gave the company a “buy” rating in a research report on Monday, January 6th. BMO Capital Markets reissued a “buy” rating and issued a $95.00 target price (up previously from $85.00) on shares of Prologis in a research report on Wednesday, November 6th. Citigroup boosted their target price on shares of Prologis from $86.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI raised shares of Prologis from an “in-line” rating to an “outperform” rating in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $91.32.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.23. Prologis had a net margin of 53.87% and a return on equity of 6.92%. The business had revenue of $712.00 million during the quarter, compared to analysts’ expectations of $715.40 million. During the same quarter in the prior year, the business posted $0.72 earnings per share. Prologis’s revenue was up 16.5% compared to the same quarter last year. Sell-side analysts anticipate that Prologis Inc will post 3.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, December 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $2.12 annualized dividend and a yield of 2.34%. Prologis’s dividend payout ratio is 69.97%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, 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 768 million square feet (71 million square meters) in 19 countries.
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