D.A. Davidson & CO. Decreases Stock Position in Prologis, Inc. $PLD

D.A. Davidson & CO. lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.8% in the first quarter, HoldingsChannel.com reports. The fund owned 566,692 shares of the real estate investment trust’s stock after selling 28,820 shares during the quarter. D.A. Davidson & CO.’s holdings in Prologis were worth $74,905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. High Note Wealth LLC raised its position in shares of Prologis by 43.9% during the 4th quarter. High Note Wealth LLC now owns 249 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 76 shares during the last quarter. Hibernia Wealth Partners LLC increased its position in Prologis by 2.5% during the first quarter. Hibernia Wealth Partners LLC now owns 3,070 shares of the real estate investment trust’s stock worth $406,000 after buying an additional 76 shares in the last quarter. Dakota Community Bank & Trust NA increased its position in Prologis by 3.4% during the fourth quarter. Dakota Community Bank & Trust NA now owns 2,398 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 79 shares in the last quarter. Dearborn Partners LLC raised its holdings in shares of Prologis by 4.2% in the fourth quarter. Dearborn Partners LLC now owns 1,969 shares of the real estate investment trust’s stock worth $251,000 after acquiring an additional 79 shares during the last quarter. Finally, Peddock Capital Advisors LLC raised its holdings in shares of Prologis by 3.1% in the fourth quarter. Peddock Capital Advisors LLC now owns 2,651 shares of the real estate investment trust’s stock worth $338,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.7%

NYSE PLD opened at $143.46 on Thursday. Prologis, Inc. has a 12 month low of $103.41 and a 12 month high of $150.18. The company has a 50-day moving average of $142.87 and a 200-day moving average of $137.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $133.75 billion, a P/E ratio of 36.14 and a beta of 1.32.

Prologis (NYSE:PLD) last released its earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.24. Prologis had a net margin of 41.54% and a return on equity of 6.47%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. Prologis’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Prologis, Inc. will post 6.17 earnings per share for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $4.28 annualized dividend and a dividend yield of 3.0%. Prologis’s payout ratio is currently 107.81%.

Insider Activity at Prologis

In related news, CFO Timothy D. Arndt sold 3,597 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

Analyst Ratings Changes

PLD has been the subject of a number of recent research reports. UBS Group lifted their price objective on Prologis from $148.00 to $161.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Scotiabank lowered shares of Prologis from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $154.00 to $146.00 in a report on Thursday, June 18th. Argus raised their price target on shares of Prologis from $135.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Robert W. Baird lifted their price target on shares of Prologis from $133.00 to $136.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Finally, Weiss Ratings raised shares of Prologis from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.00.

About Prologis

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.