Prologis Inc (NYSE:PLD) CEO Eugene F. Reilly sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $50.72, for a total value of $3,550,400.00. Following the completion of the transaction, the chief executive officer now directly owns 150,650 shares of the company’s stock, valued at $7,640,968. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Prologis Inc (NYSE:PLD) traded up 1.04% during mid-day trading on Monday, hitting $51.51. The company had a trading volume of 2,634,930 shares. The firm has a market capitalization of $27.27 billion, a P/E ratio of 22.70 and a beta of 1.05. Prologis Inc has a 12 month low of $41.67 and a 12 month high of $54.87. The firm has a 50-day moving average price of $50.02 and a 200 day moving average price of $51.25.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, January 24th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.00. The firm had revenue of $620 million for the quarter, compared to the consensus estimate of $221.07 million. Prologis had a return on equity of 6.62% and a net margin of 47.76%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, equities research analysts forecast that Prologis Inc will post ($0.27) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Monday, March 13th. This is an increase from Prologis’s previous quarterly dividend of $0.42. Prologis’s dividend payout ratio (DPR) is currently 74.67%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cohen & Steers Inc. increased its position in shares of Prologis by 194.7% in the second quarter. Cohen & Steers Inc. now owns 31,179,168 shares of the company’s stock valued at $1,529,026,000 after buying an additional 20,598,621 shares during the period. FMR LLC increased its position in shares of Prologis by 7.1% in the fourth quarter. FMR LLC now owns 22,523,695 shares of the company’s stock valued at $1,189,026,000 after buying an additional 1,485,596 shares during the period. BlackRock Fund Advisors increased its position in shares of Prologis by 4.2% in the third quarter. BlackRock Fund Advisors now owns 16,213,399 shares of the company’s stock valued at $868,065,000 after buying an additional 653,321 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Prologis by 4.1% in the third quarter. Daiwa Securities Group Inc. now owns 16,076,303 shares of the company’s stock valued at $860,726,000 after buying an additional 638,992 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Prologis by 15.2% in the third quarter. JPMorgan Chase & Co. now owns 10,926,745 shares of the company’s stock valued at $585,017,000 after buying an additional 1,439,073 shares during the period.
A number of brokerages have issued reports on PLD. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and set a $55.00 price target for the company in a report on Monday, November 28th. Barclays PLC boosted their price target on Prologis from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price target on shares of Prologis in a report on Tuesday, February 14th. Finally, Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Wednesday, December 21st. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Prologis has a consensus rating of “Buy” and an average target price of $53.76.
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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