Hartford Investment Management Co. boosted its stake in shares of ProLogis, Inc. (NYSE:PLD) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,084 shares of the company’s stock after buying an additional 1,192 shares during the period. Hartford Investment Management Co.’s holdings in ProLogis were worth $6,804,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of PLD. Evercore Wealth Management LLC increased its stake in shares of ProLogis by 7.6% in the second quarter. Evercore Wealth Management LLC now owns 2,065 shares of the company’s stock valued at $101,000 after buying an additional 145 shares during the period. Solaris Asset Management LLC purchased a new stake in shares of ProLogis during the third quarter valued at about $131,000. Tower Research Capital LLC TRC purchased a new stake in shares of ProLogis during the second quarter valued at about $149,000. Bridgewater Wealth & Financial Management LLC purchased a new stake in shares of ProLogis during the third quarter valued at about $210,000. Finally, BBR Partners LLC purchased a new stake in shares of ProLogis during the second quarter valued at about $211,000. Institutional investors and hedge funds own 99.08% of the company’s stock.
Shares of ProLogis, Inc. (NYSE:PLD) traded up 0.257% during mid-day trading on Wednesday, reaching $52.605. 1,040,309 shares of the company’s stock were exchanged. ProLogis, Inc. has a 52-week low of $35.25 and a 52-week high of $54.87. The firm has a market cap of $27.81 billion, a P/E ratio of 31.425 and a beta of 1.10. The company has a 50 day moving average price of $51.88 and a 200 day moving average price of $51.78.
ProLogis (NYSE:PLD) last released its earnings results on Thursday, October 20th. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The firm had revenue of $705 million for the quarter, compared to analysts’ expectations of $221.07 million. ProLogis had a net margin of 34.73% and a return on equity of 4.86%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. Analysts forecast that ProLogis, Inc. will post ($0.27) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Monday, December 19th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, December 15th. ProLogis’s payout ratio is 101.21%.
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Several equities research analysts recently issued reports on PLD shares. Zacks Investment Research upgraded shares of ProLogis from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Monday, December 12th. Cantor Fitzgerald set a $55.00 target price on shares of ProLogis and gave the company a “buy” rating in a research note on Thursday, November 10th. Evercore ISI raised shares of ProLogis from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Tuesday, October 18th. Finally, Capital One Financial Corporation raised shares of ProLogis from an “underweight” rating to an “equal weight” rating and set a $53.00 price target on the stock in a report on Monday, October 17th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $52.32.
ProLogis Company Profile
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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