Standard Life Aberdeen plc trimmed its position in shares of Prologis Inc (NYSE:PLD) by 18.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,324,260 shares of the real estate investment trust’s stock after selling 518,193 shares during the quarter. Standard Life Aberdeen plc owned approximately 0.44% of Prologis worth $152,694,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Millennium Management LLC bought a new stake in Prologis during the fourth quarter valued at about $463,000. Fort Washington Investment Advisors Inc. OH raised its stake in Prologis by 10.3% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 25,911 shares of the real estate investment trust’s stock valued at $1,632,000 after buying an additional 2,430 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Prologis by 11.4% in the first quarter. Daiwa Securities Group Inc. now owns 5,230,126 shares of the real estate investment trust’s stock valued at $329,445,000 after buying an additional 535,822 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in Prologis by 23.1% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 242,824 shares of the real estate investment trust’s stock valued at $15,119,000 after buying an additional 45,586 shares during the last quarter. Finally, Dupont Capital Management Corp raised its stake in Prologis by 2.6% in the first quarter. Dupont Capital Management Corp now owns 110,900 shares of the real estate investment trust’s stock valued at $6,986,000 after buying an additional 2,837 shares during the last quarter. 95.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:PLD traded up $0.12 during trading on Friday, hitting $67.23. The stock had a trading volume of 3,166,567 shares, compared to its average volume of 4,527,946. Prologis Inc has a 12-month low of $58.28 and a 12-month high of $68.20. The stock has a market cap of $41.82 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 4.41 and a beta of 0.74. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 17th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, September 14th. Prologis’s dividend payout ratio is currently 68.33%.
PLD has been the subject of a number of research analyst reports. ValuEngine cut Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. SunTrust Banks set a $70.00 price target on Prologis and gave the company a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday. JPMorgan Chase & Co. set a $72.00 price target on Prologis and gave the company a “buy” rating in a research note on Thursday, August 23rd. Finally, Barclays increased their price target on Prologis from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, August 2nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Prologis presently has an average rating of “Buy” and a consensus price target of $71.13.
In related news, insider Edward S. Nekritz sold 22,213 shares of Prologis stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $64.87, for a total transaction of $1,440,957.31. Following the completion of the transaction, the insider now directly owns 124,201 shares in the company, valued at $8,056,918.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J Michael Losh sold 6,762 shares of Prologis stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $65.63, for a total value of $443,790.06. Following the transaction, the director now owns 28,101 shares of the company’s stock, valued at $1,844,268.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,996 shares of company stock valued at $2,385,662. 1.31% of the stock is owned by company insiders.
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.
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