CCM Investment Advisers LLC Buys 8,653 Shares of Prologis, Inc. $PLD

CCM Investment Advisers LLC raised its stake in Prologis, Inc. (NYSE:PLD) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,463 shares of the real estate investment trust’s stock after acquiring an additional 8,653 shares during the quarter. CCM Investment Advisers LLC’s holdings in Prologis were worth $10,016,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PLD. Norges Bank acquired a new position in shares of Prologis in the second quarter valued at approximately $1,288,936,000. Franklin Resources Inc. boosted its stake in Prologis by 216.0% in the 2nd quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust’s stock valued at $1,056,545,000 after purchasing an additional 6,870,479 shares during the period. State Street Corp grew its holdings in Prologis by 1.9% in the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock valued at $6,164,325,000 after buying an additional 1,088,544 shares in the last quarter. Strs Ohio bought a new position in Prologis during the 1st quarter worth $98,308,000. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Prologis by 11,585.8% during the second quarter. Balyasny Asset Management L.P. now owns 882,398 shares of the real estate investment trust’s stock worth $92,758,000 after buying an additional 874,847 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director directly owned 8,208 shares of the company’s stock, valued at $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 1,621 shares of company stock worth $198,655. 0.57% of the stock is owned by corporate insiders.

Prologis Price Performance

Shares of NYSE:PLD opened at $127.20 on Friday. The firm has a 50 day moving average of $125.69 and a 200-day moving average of $115.37. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $131.70. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $118.15 billion, a PE ratio of 37.09, a PEG ratio of 3.91 and a beta of 1.40.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.21 billion for the quarter. On average, equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, December 16th. Prologis’s dividend payout ratio is currently 117.78%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Industrial Alliance Securities set a $119.00 price target on shares of Prologis in a research note on Monday, October 20th. UBS Group set a $138.00 target price on shares of Prologis in a research report on Thursday, December 4th. Scotiabank raised their target price on shares of Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research note on Monday, October 20th. Finally, Wells Fargo & Company increased their price target on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $126.88.

Prologis Profile

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.