Confluence Wealth Services Inc. acquired a new stake in Prologis, Inc. (NYSE:PLD – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,282 shares of the real estate investment trust’s stock, valued at approximately $215,000.
Other large investors also recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of Prologis in the first quarter worth approximately $57,000. Morgan Stanley raised its holdings in shares of Prologis by 30.6% in the second quarter. Morgan Stanley now owns 6,634,236 shares of the real estate investment trust’s stock worth $792,990,000 after buying an additional 1,552,532 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Prologis by 62.8% in the third quarter. First Horizon Advisors Inc. now owns 1,356 shares of the real estate investment trust’s stock worth $170,000 after buying an additional 523 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Prologis by 14.1% in the third quarter. Geneos Wealth Management Inc. now owns 646 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 80 shares during the period. Finally, Sawtooth Solutions LLC raised its holdings in shares of Prologis by 12.7% in the third quarter. Sawtooth Solutions LLC now owns 3,307 shares of the real estate investment trust’s stock worth $415,000 after buying an additional 373 shares during the period. 93.53% of the stock is owned by institutional investors and hedge funds.
In other Prologis news, Director Irving F. Lyons III sold 44,385 shares of Prologis stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $164.60, for a total transaction of $7,305,771.00. Following the completion of the sale, the director now owns 22,431 shares of the company’s stock, valued at approximately $3,692,142.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William D. Zollars sold 1,350 shares of Prologis stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $155.68, for a total value of $210,168.00. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
Prologis (NYSE:PLD – Get Rating) last posted its quarterly earnings data on Tuesday, April 19th. The real estate investment trust reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.99. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Prologis had a return on equity of 9.98% and a net margin of 77.08%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. Research analysts predict that Prologis, Inc. will post 5.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be given a $0.79 dividend. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.46%. Prologis’s payout ratio is 63.33%.
Several equities research analysts have recently weighed in on PLD shares. The Goldman Sachs Group increased their price target on Prologis from $184.00 to $209.00 in a report on Friday, January 21st. BTIG Research raised their price objective on Prologis from $161.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, April 12th. StockNews.com downgraded Prologis from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Robert W. Baird raised their price objective on Prologis from $152.00 to $175.00 in a report on Wednesday, April 20th. Finally, Royal Bank of Canada raised their price objective on Prologis from $164.00 to $170.00 in a report on Monday, January 24th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $175.75.
Prologis Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Prologis (PLD)
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