First Pacific Financial Raises Stake in Prologis, Inc. $PLD

First Pacific Financial boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 32.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,725 shares of the real estate investment trust’s stock after buying an additional 5,870 shares during the quarter. First Pacific Financial’s holdings in Prologis were worth $2,717,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Ignite Planners LLC grew its position in shares of Prologis by 3.2% during the 3rd quarter. Ignite Planners LLC now owns 2,937 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 92 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Prologis by 0.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock worth $1,438,000 after purchasing an additional 93 shares during the period. Michael S. Ryan Inc. lifted its stake in Prologis by 2.9% in the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock valued at $348,000 after purchasing an additional 94 shares during the last quarter. Stableford Capital II LLC grew its holdings in Prologis by 0.4% during the third quarter. Stableford Capital II LLC now owns 21,090 shares of the real estate investment trust’s stock valued at $2,415,000 after purchasing an additional 94 shares during the period. Finally, Palogic Value Management L.P. grew its holdings in Prologis by 4.7% during the second quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 96 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the sale, the director owned 8,208 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

Prologis Trading Down 1.0%

Shares of Prologis stock opened at $127.71 on Friday. The company’s 50-day moving average price is $126.76 and its 200-day moving average price is $116.57. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $131.70. The company has a market cap 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 (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company had revenue of $2.21 billion during the quarter. On average, equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Prologis’s dividend payout ratio is presently 117.78%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PLD shares. BTIG Research boosted their target price on Prologis from $134.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group set a $138.00 price objective on Prologis in a report on Thursday, December 4th. Barclays lowered their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Wells Fargo & Company increased their target price on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Prologis currently 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.