MUFG Americas Holdings Corp lowered its stake in shares of Prologis Inc (NYSE:PLD) by 19.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,521 shares of the real estate investment trust’s stock after selling 2,038 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Prologis were worth $578,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Palo Capital Inc. bought a new position in Prologis during the third quarter worth about $150,000. Kistler Tiffany Companies LLC bought a new position in Prologis during the third quarter worth about $160,000. Capital Guardian Trust Co. bought a new position in Prologis during the third quarter worth about $164,000. Quadrant Capital Group LLC boosted its position in Prologis by 48.7% during the third quarter. Quadrant Capital Group LLC now owns 2,507 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 821 shares during the period. Finally, KAMES CAPITAL plc bought a new position in Prologis during the third quarter worth about $201,000. Institutional investors own 94.94% of the company’s stock.
PLD stock opened at $64.81 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.32 and a quick ratio of 0.32. Prologis Inc has a 12 month low of $58.28 and a 12 month high of $68.95. The company has a market capitalization of $40.80 billion, a PE ratio of 22.35, a PEG ratio of 4.27 and a beta of 0.75.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Tuesday, December 18th will be given a $0.48 dividend. The ex-dividend date of this dividend is Monday, December 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.96%. Prologis’s dividend payout ratio (DPR) is currently 68.33%.
In other news, Director Philip L. Hawkins sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $67.23, for a total value of $1,008,450.00. Following the completion of the transaction, the director now directly owns 69,511 shares in the company, valued at $4,673,224.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward S. Nekritz sold 18,099 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $67.66, for a total transaction of $1,224,578.34. Following the completion of the transaction, the insider now owns 106,102 shares of the company’s stock, valued at $7,178,861.32. The disclosure for this sale can be found here. Insiders sold 52,907 shares of company stock valued at $3,565,328 over the last 90 days. 1.32% of the stock is owned by company insiders.
PLD has been the subject of a number of research reports. Barclays reiterated a “buy” rating and set a $70.00 target price on shares of Prologis in a research report on Sunday, October 14th. Zacks Investment Research lowered shares of Prologis from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. JPMorgan Chase & Co. set a $72.00 target price on shares of Prologis and gave the stock a “buy” rating in a research report on Thursday, August 23rd. BTIG Research set a $73.00 target price on shares of Prologis and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Finally, Bank of America increased their target price on shares of Prologis from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, September 10th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Prologis currently has an average rating of “Buy” and an average target price of $71.93.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 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 771 million square feet (72 million square meters) in 19 countries.
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