MetLife Investment Advisors LLC boosted its holdings in Prologis Inc (NYSE:PLD) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 183,125 shares of the real estate investment trust’s stock after purchasing an additional 26,153 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Prologis were worth $12,414,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Palo Capital Inc. bought a new stake in Prologis in the third quarter worth approximately $150,000. Quadrant Capital Group LLC increased its holdings in Prologis by 48.7% in the third quarter. Quadrant Capital Group LLC now owns 2,507 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 821 shares in the last quarter. Kistler Tiffany Companies LLC bought a new stake in Prologis in the third quarter worth approximately $160,000. Capital Guardian Trust Co. bought a new stake in Prologis in the third quarter worth approximately $164,000. Finally, KAMES CAPITAL plc bought a new stake in Prologis in the third quarter worth approximately $201,000. Institutional investors and hedge funds own 94.94% of the company’s stock.
A number of brokerages have weighed in on PLD. BMO Capital Markets reiterated a “buy” rating and issued a $70.00 target price on shares of Prologis in a report on Tuesday, October 16th. BTIG Research set a $73.00 target price on Prologis and gave the stock a “buy” rating in a report on Thursday, August 23rd. Barclays reiterated a “buy” rating and issued a $70.00 target price on shares of Prologis in a report on Sunday, October 14th. Bank of America lifted their target price on Prologis from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Finally, Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $71.93.
NYSE PLD opened at $64.81 on Friday. The company has a market cap of $40.80 billion, a PE ratio of 23.06, a PEG ratio of 4.27 and a beta of 0.75. Prologis Inc has a 52 week low of $58.28 and a 52 week high of $68.95. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.44.
Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, October 16th. The real estate investment trust reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The firm had revenue of $611.00 million during the quarter, compared to the consensus estimate of $582.23 million. Prologis had a return on equity of 6.65% and a net margin of 51.66%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.63 earnings per share. On average, equities analysts anticipate that Prologis Inc will post 3.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Tuesday, December 18th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, December 17th. This represents a $1.92 annualized dividend and a dividend yield of 2.96%. Prologis’s dividend payout ratio is 68.33%.
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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 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 771 million square feet (72 million square meters) in 19 countries.
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