Global Retirement Partners LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,552 shares of the real estate investment trust’s stock after buying an additional 2,496 shares during the period. Global Retirement Partners LLC’s holdings in Prologis were worth $1,849,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in PLD. Advisory Alpha LLC acquired a new position in Prologis during the 3rd quarter valued at about $25,000. Planned Solutions Inc. purchased a new position in shares of Prologis during the third quarter valued at $26,000. Rockbridge Investment Management LCC purchased a new position in shares of Prologis during the second quarter valued at $39,000. Altshuler Shaham Ltd purchased a new position in shares of Prologis during the third quarter valued at $39,000. Finally, TFC Financial Management purchased a new position in shares of Prologis during the third quarter valued at $40,000. 94.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on PLD. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating and set a $111.00 price objective for the company. in a research report on Thursday, October 8th. UBS Group began coverage on Prologis in a research report on Friday, October 16th. They issued a “buy” rating and a $126.00 price target for the company. BidaskClub upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Friday, December 18th. BTIG Research upped their price objective on Prologis from $100.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, November 30th. Finally, The Goldman Sachs Group began coverage on Prologis in a research note on Tuesday, September 29th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $107.80.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 20th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.48). Prologis had a net margin of 43.27% and a return on equity of 5.55%. The firm had revenue of $984.00 million during the quarter, compared to analyst estimates of $955.32 million. During the same quarter last year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. Sell-side analysts expect that Prologis, Inc. will post 3.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Friday, December 18th were paid a $0.58 dividend. The ex-dividend date of this dividend was Thursday, December 17th. This represents a $2.32 annualized dividend and a yield of 2.43%. Prologis’s dividend payout ratio (DPR) is currently 70.09%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 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 976 million square feet (91 million square meters) in 19 countries.
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