Prologis, Inc. (NYSE:PLD) Stake Boosted by Panagora Asset Management Inc.

Panagora Asset Management Inc. boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,235,872 shares of the real estate investment trust’s stock after buying an additional 186,169 shares during the quarter. Prologis accounts for approximately 0.8% of Panagora Asset Management Inc.’s investment portfolio, making the stock its 14th largest position. Panagora Asset Management Inc.’s holdings in Prologis were worth $155,015,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Vanguard Group Inc. increased its position in Prologis by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 95,403,510 shares of the real estate investment trust’s stock worth $11,403,582,000 after buying an additional 753,189 shares during the period. State Street Corp boosted its position in Prologis by 1.3% during the second quarter. State Street Corp now owns 42,372,276 shares of the real estate investment trust’s stock valued at $5,064,758,000 after purchasing an additional 543,417 shares during the last quarter. FMR LLC raised its stake in Prologis by 7.9% in the second quarter. FMR LLC now owns 22,666,349 shares of the real estate investment trust’s stock valued at $2,709,309,000 after buying an additional 1,655,815 shares during the period. Price T Rowe Associates Inc. MD grew its position in Prologis by 1.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 18,100,523 shares of the real estate investment trust’s stock worth $2,163,556,000 after buying an additional 327,627 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Prologis by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 13,177,548 shares of the real estate investment trust’s stock valued at $1,570,777,000 after purchasing an additional 325,597 shares in the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Shares of Prologis stock traded down $2.28 during trading on Friday, hitting $150.87. The stock had a trading volume of 17,146 shares, compared to its average volume of 3,274,487. The business’s 50-day moving average is $156.33 and its 200 day moving average is $140.30. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.47. Prologis, Inc. has a 12 month low of $94.14 and a 12 month high of $169.93. The firm has a market cap of $111.54 billion, a price-to-earnings ratio of 57.79, a P/E/G ratio of 4.10 and a beta of 0.81.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.06). The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Prologis had a return on equity of 5.42% and a net margin of 42.95%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. As a group, equities analysts expect that Prologis, Inc. will post 4.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Tuesday, December 14th were given a $0.63 dividend. The ex-dividend date of this dividend was Monday, December 13th. This represents a $2.52 annualized dividend and a dividend yield of 1.67%. Prologis’s payout ratio is presently 95.09%.

In related news, CEO Hamid R. Moghadam sold 305,645 shares of the business’s stock in a transaction dated Friday, October 22nd. The shares were sold at an average price of $144.24, for a total value of $44,086,234.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director William D. Zollars sold 1,380 shares of the stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $146.20, for a total transaction of $201,756.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 323,335 shares of company stock valued at $46,681,516. 0.87% of the stock is currently owned by company insiders.

A number of equities analysts have recently weighed in on the company. BTIG Research boosted their target price on Prologis from $146.00 to $161.00 and gave the stock a “buy” rating in a research note on Wednesday, October 20th. Wells Fargo & Company increased their price target on shares of Prologis from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 19th. Barclays raised their price objective on shares of Prologis from $159.00 to $161.00 and gave the company an “overweight” rating in a research report on Tuesday, October 19th. The Goldman Sachs Group raised shares of Prologis from a “buy” rating to a “conviction-buy” rating and lifted their price target for the stock from $166.00 to $180.00 in a research note on Thursday, October 21st. Finally, Truist boosted their price objective on shares of Prologis from $137.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, October 25th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has an average rating of “Buy” and a consensus target price of $152.07.

About Prologis

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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