Continental Investors Services Inc. Makes New $368,000 Investment in Prologis, Inc. (NYSE:PLD)

Continental Investors Services Inc. bought a new position in Prologis, Inc. (NYSE:PLD – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,935 shares of the real estate investment trust’s stock, valued at approximately $368,000.

A number of other hedge funds have also made changes to their positions in the stock. U.S. Capital Wealth Advisors LLC lifted its position in shares of Prologis by 1.2% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 5,985 shares of the real estate investment trust’s stock worth $704,000 after purchasing an additional 73 shares in the last quarter. Covington Capital Management lifted its position in shares of Prologis by 11.0% in the third quarter. Covington Capital Management now owns 920 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 91 shares in the last quarter. Ninepoint Partners LP lifted its position in shares of Prologis by 3.0% in the third quarter. Ninepoint Partners LP now owns 3,242 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 93 shares in the last quarter. Bell Investment Advisors Inc lifted its position in shares of Prologis by 28.2% in the third quarter. Bell Investment Advisors Inc now owns 427 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 94 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its position in shares of Prologis by 6.1% in the first quarter. Centaurus Financial Inc. now owns 1,645 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 94 shares in the last quarter. 75.84% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 3.4 %

Shares of Prologis stock opened at $116.03 on Friday. The company’s fifty day simple moving average is $124.51 and its 200-day simple moving average is $116.61. The company has a market cap of $107.15 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.06 and a beta of 0.99. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.41. Prologis, Inc. has a 1 year low of $98.03 and a 1 year high of $174.54.

Prologis (NYSE:PLD – Get Rating) last announced its quarterly earnings data on Wednesday, January 18th. The real estate investment trust reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.03. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.46 billion. Prologis had a net margin of 56.33% and a return on equity of 7.71%. Prologis’s quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter last year, the company posted $1.12 earnings per share. As a group, sell-side analysts expect that Prologis, Inc. will post 5.52 EPS for the current year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be paid a $0.87 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.79. The ex-dividend date is Thursday, March 16th. This represents a $3.48 annualized dividend and a dividend yield of 3.00%. Prologis’s dividend payout ratio (DPR) is presently 72.64%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Prologis from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $124.00 to $130.00 in a research report on Friday, December 16th. Wells Fargo & Company raised their price objective on shares of Prologis to $141.00 in a research report on Wednesday, December 14th. Morgan Stanley raised their price objective on shares of Prologis from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. BMO Capital Markets raised their price objective on shares of Prologis from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, January 30th. Finally, Truist Financial raised their price objective on shares of Prologis from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.00.

Prologis Profile

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Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.