Prologis Inc (NYSE:PLD) insider Lori A. Palazzolo sold 6,540 shares of Prologis stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $53.95, for a total transaction of $352,833.00. Following the transaction, the insider now owns 3,315 shares in the company, valued at approximately $178,844.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Prologis Inc (NYSE:PLD) traded up 0.86% during midday trading on Friday, hitting $55.24. 3,047,779 shares of the stock were exchanged. The company has a 50 day moving average price of $54.28 and a 200 day moving average price of $51.64. Prologis Inc has a one year low of $45.93 and a one year high of $55.93. The firm has a market capitalization of $29.24 billion, a price-to-earnings ratio of 24.35 and a beta of 1.05.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, April 18th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. Prologis had a net margin of 47.76% and a return on equity of 6.62%. The company had revenue of $629.16 million for the quarter, compared to the consensus estimate of $555.37 million. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Prologis Inc will post ($0.27) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 14th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, June 12th. This represents a $1.76 annualized dividend and a dividend yield of 3.19%. Prologis’s dividend payout ratio is presently 74.67%.
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Several institutional investors have recently added to or reduced their stakes in PLD. Guardian Life Insurance Co. of America boosted its position in Prologis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 14 shares in the last quarter. First Allied Advisory Services Inc. boosted its position in Prologis by 0.8% in the fourth quarter. First Allied Advisory Services Inc. now owns 4,773 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 37 shares in the last quarter. Solaris Asset Management LLC boosted its position in Prologis by 1.8% in the first quarter. Solaris Asset Management LLC now owns 2,825 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 50 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in Prologis by 0.7% in the third quarter. Johnson Investment Counsel Inc. now owns 7,863 shares of the real estate investment trust’s stock valued at $420,000 after buying an additional 54 shares in the last quarter. Finally, Quadrant Capital Management LLC boosted its position in Prologis by 0.3% in the first quarter. Quadrant Capital Management LLC now owns 22,621 shares of the real estate investment trust’s stock valued at $1,174,000 after buying an additional 75 shares in the last quarter.
PLD has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Friday, April 21st. Barclays PLC reaffirmed an “overweight” rating and set a $54.00 price target (down previously from $58.00) on shares of Prologis in a research note on Monday, January 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $52.00 price target on shares of Prologis in a research note on Tuesday, February 14th. Citigroup Inc lifted their price target on shares of Prologis from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Finally, Evercore ISI lifted their price target on shares of Prologis from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.44.
Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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