Tema Etfs LLC Takes Position in Prologis, Inc. $PLD

Tema Etfs LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,497 shares of the real estate investment trust’s stock, valued at approximately $1,660,000.

A number of other hedge funds also recently added to or reduced their stakes in PLD. New York State Teachers Retirement System boosted its stake in shares of Prologis by 1.4% during the third quarter. New York State Teachers Retirement System now owns 705,466 shares of the real estate investment trust’s stock valued at $80,790,000 after purchasing an additional 9,612 shares in the last quarter. Washington Trust Bank grew its stake in Prologis by 0.3% during the 3rd quarter. Washington Trust Bank now owns 54,309 shares of the real estate investment trust’s stock worth $6,219,000 after buying an additional 152 shares during the last quarter. Opal Wealth Advisors LLC increased its holdings in shares of Prologis by 3.7% during the third quarter. Opal Wealth Advisors LLC now owns 3,021 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 109 shares in the last quarter. Warwick Investment Management Inc. increased its stake in Prologis by 191.0% during the 3rd quarter. Warwick Investment Management Inc. now owns 5,799 shares of the real estate investment trust’s stock valued at $664,000 after purchasing an additional 3,806 shares in the last quarter. Finally, ORG Partners LLC raised its stake in Prologis by 3.3% in the 3rd quarter. ORG Partners LLC now owns 2,867 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 92 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the sale, the director owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James B. Connor sold 80,000 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $126.58, for a total value of $10,126,400.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 81,121 shares of company stock worth $10,267,210. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $130.00 target price (up previously from $128.00) on shares of Prologis in a research note on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of Prologis in a research report on Monday, December 29th. Scotiabank increased their target price on shares of Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. Finally, Wells Fargo & Company boosted their price target on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $129.18.

Prologis Stock Performance

NYSE PLD opened at $129.05 on Tuesday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $131.70. The stock has a market cap of $119.87 billion, a price-to-earnings ratio of 37.62, a price-to-earnings-growth ratio of 3.80 and a beta of 1.40. The business has a fifty day moving average of $127.26 and a 200-day moving average of $117.84. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.21 billion during the quarter. As a group, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.1%. Prologis’s payout ratio is 117.78%.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.