Virginia Retirement Systems ET AL trimmed its position in Prologis Inc (NYSE:PLD) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 757,667 shares of the real estate investment trust’s stock after selling 1,800 shares during the quarter. Prologis comprises about 0.7% of Virginia Retirement Systems ET AL’s investment portfolio, making the stock its 23rd biggest position. Virginia Retirement Systems ET AL’s holdings in Prologis were worth $67,538,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of PLD. Marshall Wace LLP purchased a new position in Prologis in the first quarter worth about $57,000. Arjuna Capital grew its position in Prologis by 1.8% in the second quarter. Arjuna Capital now owns 21,771 shares of the real estate investment trust’s stock worth $1,744,000 after acquiring an additional 381 shares in the last quarter. Man Group plc grew its position in Prologis by 22.9% in the second quarter. Man Group plc now owns 25,658 shares of the real estate investment trust’s stock worth $2,055,000 after acquiring an additional 4,787 shares in the last quarter. Schroder Investment Management Group grew its position in Prologis by 395.4% in the second quarter. Schroder Investment Management Group now owns 51,020 shares of the real estate investment trust’s stock worth $4,087,000 after acquiring an additional 40,722 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Prologis by 11.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,735 shares of the real estate investment trust’s stock worth $1,020,000 after acquiring an additional 1,328 shares in the last quarter. 95.40% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Robert W. Baird lifted their price target on Prologis from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday. ValuEngine lowered Prologis from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BTIG Research boosted their target price on Prologis from to and gave the company a “buy” rating in a research report on Monday, January 6th. Citigroup boosted their target price on Prologis from $86.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Monday, January 20th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $93.39.
Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $0.84 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.84. The company had revenue of $728.00 million during the quarter, compared to the consensus estimate of $727.32 million. Prologis had a net margin of 47.23% and a return on equity of 6.08%. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, analysts forecast that Prologis Inc will post 3.7 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, December 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $2.12 dividend on an annualized basis and a yield of 2.22%. Prologis’s payout ratio is 64.05%.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 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 768 million square feet (71 million square meters) in 19 countries.
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