Prologis Inc (PLD) Position Trimmed by Fox Run Management L.L.C.

Fox Run Management L.L.C. trimmed its position in shares of Prologis Inc (NYSE:PLD) by 30.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,354 shares of the real estate investment trust’s stock after selling 2,329 shares during the period. Fox Run Management L.L.C.’s holdings in Prologis were worth $363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. BB&T Securities LLC grew its holdings in Prologis by 24.9% during the 1st quarter. BB&T Securities LLC now owns 4,806 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 957 shares in the last quarter. CAMG Solamere Management LLC grew its holdings in Prologis by 1.6% during the 1st quarter. CAMG Solamere Management LLC now owns 60,446 shares of the real estate investment trust’s stock worth $3,807,000 after acquiring an additional 952 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Prologis by 3.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 809,678 shares of the real estate investment trust’s stock worth $51,003,000 after acquiring an additional 23,341 shares in the last quarter. Ostrum Asset Management acquired a new position in Prologis during the 1st quarter worth $880,000. Finally, LPL Financial LLC grew its holdings in Prologis by 14.0% during the 1st quarter. LPL Financial LLC now owns 20,756 shares of the real estate investment trust’s stock worth $1,307,000 after acquiring an additional 2,551 shares in the last quarter. 80.59% of the stock is owned by institutional investors and hedge funds.

Prologis stock opened at $65.56 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73. Prologis Inc has a 1 year low of $58.28 and a 1 year high of $68.20. The stock has a market capitalization of $42.67 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 4.43 and a beta of 0.72.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.71. Prologis had a net margin of 74.17% and a return on equity of 10.11%. The company had revenue of $621.00 million for the quarter, compared to the consensus estimate of $557.43 million. During the same period last year, the firm posted $0.84 EPS. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. On average, research analysts expect that Prologis Inc will post 3.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Monday, September 17th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.93%. Prologis’s payout ratio is currently 68.33%.

In other news, Director William D. Zollars sold 8,020 shares of the firm’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $62.45, for a total value of $500,849.00. Following the transaction, the director now directly owns 11,490 shares in the company, valued at approximately $717,550.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Irving F. Lyons III sold 4,808 shares of the firm’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $67.45, for a total transaction of $324,299.60. Following the completion of the transaction, the director now owns 9,863 shares in the company, valued at $665,259.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,690 shares of company stock worth $3,501,582. Insiders own 1.32% of the company’s stock.

Several brokerages have weighed in on PLD. Zacks Investment Research lowered shares of Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Jefferies Financial Group reissued a “$62.97” rating and set a $79.00 price objective on shares of Prologis in a report on Wednesday, July 18th. ValuEngine raised shares of Prologis from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. Robert W. Baird reissued a “buy” rating and set a $73.00 price objective on shares of Prologis in a report on Monday, July 23rd. Finally, SunTrust Banks set a $70.00 price objective on shares of Prologis and gave the stock a “buy” rating in a report on Tuesday, August 7th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $71.53.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 685 million square feet (64 million square meters) in 19 countries.

Further Reading: Buyback

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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