Prologis, Inc. $PLD Shares Purchased by Allstate Corp

Allstate Corp raised its holdings in Prologis, Inc. (NYSE:PLD) by 288.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,437 shares of the real estate investment trust’s stock after purchasing an additional 32,261 shares during the quarter. Allstate Corp’s holdings in Prologis were worth $4,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Clayton Financial Group LLC acquired a new position in Prologis during the third quarter worth $26,000. Silver Oak Securities Incorporated purchased a new stake in shares of Prologis during the 3rd quarter worth $36,000. Barrett & Company Inc. purchased a new stake in shares of Prologis during the 2nd quarter worth $44,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Prologis during the 2nd quarter worth $44,000. Finally, SJS Investment Consulting Inc. purchased a new position in shares of Prologis in the 3rd quarter valued at about $44,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James B. Connor sold 80,000 shares of Prologis stock in a transaction on Friday, October 24th. The stock was sold at an average price of $126.58, for a total value of $10,126,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction 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 completion of the transaction, the director owned 8,208 shares of the company’s stock, valued at $1,047,340.80. The trade was a 7.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 81,121 shares of company stock worth $10,267,210. 0.57% of the stock is owned by company insiders.

Prologis Stock Up 0.3%

Shares of NYSE:PLD opened at $133.21 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $123.74 billion, a P/E ratio of 38.84, a P/E/G ratio of 3.91 and a beta of 1.40. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $134.94. The stock’s fifty day simple moving average is $127.86 and its 200-day simple moving average is $118.56.

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

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.0%. Prologis’s dividend payout ratio is presently 117.78%.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Barclays reissued an “overweight” rating and set a $139.00 price target on shares of Prologis in a research note on Tuesday, January 13th. Morgan Stanley set a $135.00 price target on Prologis in a report on Friday. UBS Group lifted their price objective on Prologis from $137.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Finally, Evercore ISI upped their target price on Prologis from $116.00 to $118.00 in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $132.31.

Prologis Company 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.