Guggenheim Capital LLC boosted its holdings in Prologis Inc (NYSE:PLD) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,223,081 shares of the real estate investment trust’s stock after acquiring an additional 2,097 shares during the quarter. Guggenheim Capital LLC owned 0.23% of Prologis worth $77,044,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Centersquare Investment Management LLC bought a new position in Prologis in the 1st quarter worth about $370,841,000. Deutsche Bank AG increased its stake in Prologis by 77.4% in the 4th quarter. Deutsche Bank AG now owns 6,099,545 shares of the real estate investment trust’s stock worth $393,473,000 after acquiring an additional 2,661,525 shares during the last quarter. BlackRock Inc. increased its stake in Prologis by 2.4% in the 1st quarter. BlackRock Inc. now owns 54,695,555 shares of the real estate investment trust’s stock worth $3,445,272,000 after acquiring an additional 1,307,023 shares during the last quarter. Wells Fargo & Company MN increased its stake in Prologis by 43.7% in the 4th quarter. Wells Fargo & Company MN now owns 3,291,408 shares of the real estate investment trust’s stock worth $212,329,000 after acquiring an additional 1,000,145 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in Prologis by 577.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,150,785 shares of the real estate investment trust’s stock worth $74,238,000 after acquiring an additional 980,885 shares during the last quarter. Institutional investors and hedge funds own 94.26% of the company’s stock.
A number of equities analysts have weighed in on PLD shares. Barclays restated an “overweight” rating and issued a $72.00 target price on shares of Prologis in a research note on Friday, February 16th. JPMorgan Chase & Co. upgraded Prologis from a “neutral” rating to an “overweight” rating in a report on Tuesday, March 27th. ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Citigroup upgraded Prologis from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Friday, April 6th. Finally, Jefferies Financial Group upgraded Prologis from a “hold” rating to a “buy” rating in a report on Thursday, April 12th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $69.00.
Shares of PLD stock opened at $64.23 on Thursday. The stock has a market cap of $34.92 billion, a P/E ratio of 22.86, a P/E/G ratio of 4.41 and a beta of 0.82. Prologis Inc has a 1-year low of $56.59 and a 1-year high of $67.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.66 and a quick ratio of 0.66.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, April 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.33. The company had revenue of $555.90 million during the quarter, compared to analysts’ expectations of $552.42 million. Prologis had a return on equity of 9.86% and a net margin of 67.65%. Prologis’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. equities research analysts expect that Prologis Inc will post 3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, June 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.99%. The ex-dividend date is Wednesday, June 13th. Prologis’s dividend payout ratio is presently 68.33%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2018, 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 683 million square feet (63 million square meters) in 19 countries.
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