Ascent Group LLC Raises Stock Position in Prologis, Inc. $PLD

Ascent Group LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 153.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,607 shares of the real estate investment trust’s stock after purchasing an additional 9,440 shares during the period. Ascent Group LLC’s holdings in Prologis were worth $1,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PLD. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Prologis during the second quarter worth approximately $875,000. Inspire Investing LLC boosted its stake in Prologis by 9.0% during the 1st quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after purchasing an additional 7,518 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Prologis during the first quarter worth $21,792,000. Coordinated Financial Services Inc. acquired a new stake in shares of Prologis in the second quarter valued at about $389,000. Finally, DAVENPORT & Co LLC lifted its stake in shares of Prologis by 36.7% in the third quarter. DAVENPORT & Co LLC now owns 50,912 shares of the real estate investment trust’s stock worth $5,830,000 after buying an additional 13,666 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 1.0%

Shares of Prologis stock opened at $127.71 on Friday. The stock has a 50 day moving average of $126.76 and a 200 day moving average of $116.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $118.63 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 3.92 and a beta of 1.40. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $131.70.

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

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is 117.78%.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were 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 approximately $1,047,340.80. The trade was a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of several research reports. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research note on Monday, October 20th. Evercore ISI upped their price target on Prologis from $116.00 to $118.00 in a research report on Monday, December 22nd. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a report on Monday, October 20th. Mizuho boosted their price objective on Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Finally, Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and upped their target price for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.24.

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.