Liberty One Investment Management LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,884 shares of the real estate investment trust’s stock after buying an additional 618 shares during the quarter. Liberty One Investment Management LLC’s holdings in Prologis were worth $1,684,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in PLD. Norges Bank bought a new position in shares of Prologis in the fourth quarter worth $686,317,000. JPMorgan Chase & Co. grew its stake in shares of Prologis by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 28,826,307 shares of the real estate investment trust’s stock worth $2,872,829,000 after purchasing an additional 1,771,628 shares in the last quarter. BlackRock Inc. grew its stake in shares of Prologis by 2.2% in the fourth quarter. BlackRock Inc. now owns 76,214,355 shares of the real estate investment trust’s stock worth $7,595,521,000 after purchasing an additional 1,640,816 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Prologis by 84.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,404,117 shares of the real estate investment trust’s stock worth $239,594,000 after purchasing an additional 1,103,508 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Prologis by 21.4% in the fourth quarter. Morgan Stanley now owns 6,176,309 shares of the real estate investment trust’s stock worth $615,531,000 after purchasing an additional 1,090,725 shares in the last quarter. 94.07% of the stock is owned by institutional investors.
NYSE PLD traded up $0.48 on Friday, hitting $108.92. 3,619 shares of the company were exchanged, compared to its average volume of 2,935,893. The company’s 50 day moving average price is $102.94 and its 200-day moving average price is $101.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $80.57 billion, a P/E ratio of 48.20, a price-to-earnings-growth ratio of 3.41 and a beta of 0.80. Prologis, Inc. has a twelve month low of $80.12 and a twelve month high of $112.37.
Prologis (NYSE:PLD) last released its earnings results on Monday, January 25th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.54). Prologis had a return on equity of 4.67% and a net margin of 38.21%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $993.87 million. During the same period last year, the business earned $0.84 earnings per share. The business’s revenue was up 34.6% on a year-over-year basis. As a group, equities analysts expect that Prologis, Inc. will post 3.77 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Friday, March 19th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, March 18th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from Prologis’s previous quarterly dividend of $0.58. Prologis’s payout ratio is currently 76.13%.
Several research analysts have recently issued reports on the company. Evercore ISI raised Prologis from an “in-line” rating to an “outperform” rating and set a $121.00 price target for the company in a research note on Wednesday, January 27th. TheStreet cut Prologis from a “b” rating to a “c+” rating in a research note on Friday, March 19th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $114.00.
Prologis Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 984 million square feet (91 million square meters) in 19 countries.
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