Everence Capital Management Inc. purchased a new stake in Prologis, Inc. (NYSE:PLD) during the first quarter, according to its most recent filing with the SEC. The firm purchased 28,117 shares of the real estate investment trust’s stock, valued at approximately $2,980,000.
Several other large investors also recently made changes to their positions in PLD. Symphony Financial Ltd. Co. raised its holdings in shares of Prologis by 2.4% during the fourth quarter. Symphony Financial Ltd. Co. now owns 4,537 shares of the real estate investment trust’s stock valued at $436,000 after acquiring an additional 107 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its position in Prologis by 2.9% in the fourth quarter. Reynders McVeigh Capital Management LLC now owns 4,263 shares of the real estate investment trust’s stock worth $425,000 after acquiring an additional 121 shares during the period. Bourgeon Capital Management LLC lifted its stake in Prologis by 0.3% during the fourth quarter. Bourgeon Capital Management LLC now owns 47,786 shares of the real estate investment trust’s stock worth $4,762,000 after purchasing an additional 124 shares in the last quarter. Motco lifted its stake in Prologis by 4.3% during the fourth quarter. Motco now owns 3,021 shares of the real estate investment trust’s stock worth $301,000 after purchasing an additional 125 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA raised its stake in shares of Prologis by 2.2% in the fourth quarter. Lederer & Associates Investment Counsel CA now owns 5,859 shares of the real estate investment trust’s stock valued at $584,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 94.07% of the company’s stock.
Several brokerages have issued reports on PLD. TheStreet lowered Prologis from a “b” rating to a “c+” rating in a report on Friday, March 19th. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating and set a $121.00 price objective for the company in a research report on Wednesday, January 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $114.00.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Monday, January 25th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.54). Prologis had a net margin of 38.21% and a return on equity of 4.67%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $993.87 million. During the same quarter in the previous year, the business posted $0.84 EPS. The company’s revenue was up 34.6% compared to the same quarter last year. As a group, equities analysts predict that Prologis, Inc. will post 3.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Friday, March 19th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, March 18th. This represents a $2.52 dividend on an annualized basis and a yield of 2.31%. This is a boost from Prologis’s previous quarterly dividend of $0.58. Prologis’s payout ratio is currently 76.13%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
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