Carnegie Capital Asset Management LLC Buys Shares of 2,783 Prologis Inc (NYSE:PLD)

Carnegie Capital Asset Management LLC bought a new stake in Prologis Inc (NYSE:PLD) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,783 shares of the real estate investment trust’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC raised its position in shares of Prologis by 13.7% during the fourth quarter. Penserra Capital Management LLC now owns 856 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 103 shares during the last quarter. Assetmark Inc. raised its position in shares of Prologis by 4.1% during the fourth quarter. Assetmark Inc. now owns 2,868 shares of the real estate investment trust’s stock worth $256,000 after acquiring an additional 114 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Prologis by 0.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 17,905 shares of the real estate investment trust’s stock worth $1,596,000 after acquiring an additional 121 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Prologis by 23.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 645 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 122 shares during the last quarter. Finally, MUFG Americas Holdings Corp raised its position in shares of Prologis by 1.9% during the fourth quarter. MUFG Americas Holdings Corp now owns 6,675 shares of the real estate investment trust’s stock worth $595,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

A number of brokerages have recently issued reports on PLD. JPMorgan Chase & Co. lowered their price objective on Prologis from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. KeyCorp raised their price objective on Prologis from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Deutsche Bank decreased their target price on Prologis from $96.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Citigroup decreased their target price on Prologis from $105.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Finally, Morgan Stanley decreased their target price on Prologis from $100.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, March 10th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Prologis has an average rating of “Buy” and a consensus price target of $94.80.

Shares of Prologis stock opened at $87.55 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.91 and a current ratio of 0.91. Prologis Inc has a 52 week low of $59.82 and a 52 week high of $99.79. The stock has a 50 day moving average price of $86.26 and a two-hundred day moving average price of $87.86. The stock has a market capitalization of $63.81 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 3.38 and a beta of 0.97.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.11). Prologis had a net margin of 48.50% and a return on equity of 6.00%. The firm had revenue of $878.81 million during the quarter, compared to analyst estimates of $801.54 million. During the same period last year, the business posted $0.73 EPS. The company’s revenue was up 26.1% on a year-over-year basis. Research analysts forecast that Prologis Inc will post 3.59 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.32 dividend on an annualized basis and a yield of 2.65%. Prologis’s dividend payout ratio (DPR) is presently 70.09%.

In other Prologis news, Director Lydia H. Kennard sold 6,762 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $91.00, for a total value of $615,342.00. Following the completion of the sale, the director now owns 43,024 shares of the company’s stock, valued at $3,915,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.93% of the company’s stock.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 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 768 million square feet (71 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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