Eii Capital Management Inc. Has $7.42 Million Position in Prologis Inc (NYSE:PLD)

Eii Capital Management Inc. increased its position in shares of Prologis Inc (NYSE:PLD) by 10.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 92,622 shares of the real estate investment trust’s stock after acquiring an additional 8,792 shares during the quarter. Prologis accounts for 4.0% of Eii Capital Management Inc.’s portfolio, making the stock its largest holding. Eii Capital Management Inc.’s holdings in Prologis were worth $7,419,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its position in Prologis by 3.9% in the 1st quarter. FMR LLC now owns 20,743,807 shares of the real estate investment trust’s stock worth $1,492,516,000 after buying an additional 769,477 shares during the last quarter. Phocas Financial Corp. grew its stake in Prologis by 78.5% in the fourth quarter. Phocas Financial Corp. now owns 35,214 shares of the real estate investment trust’s stock worth $2,068,000 after purchasing an additional 15,491 shares during the period. State Treasurer State of Michigan grew its stake in Prologis by 0.8% in the first quarter. State Treasurer State of Michigan now owns 181,611 shares of the real estate investment trust’s stock worth $13,067,000 after purchasing an additional 1,400 shares during the period. Cetera Investment Advisers grew its stake in Prologis by 10.6% in the first quarter. Cetera Investment Advisers now owns 8,416 shares of the real estate investment trust’s stock worth $607,000 after purchasing an additional 809 shares during the period. Finally, Mn Services Vermogensbeheer B.V. grew its stake in Prologis by 1.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 108,219 shares of the real estate investment trust’s stock worth $7,786,000 after purchasing an additional 1,400 shares during the period. 95.43% of the stock is owned by institutional investors and hedge funds.

PLD has been the topic of several recent research reports. KeyCorp upped their price target on Terreno Realty from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Goldman Sachs Group initiated coverage on Liberty Property Trust in a research note on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 target price on the stock. Morgan Stanley cut Meili from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $14.00 to $4.20 in a research note on Monday, June 3rd. Deutsche Bank increased their target price on eBay from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Zacks Investment Research cut G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $76.58.

Shares of NYSE PLD traded up $1.41 during trading on Tuesday, reaching $82.59. The company had a trading volume of 2,141,300 shares, compared to its average volume of 2,369,789. Prologis Inc has a 12-month low of $55.21 and a 12-month high of $83.99. The stock has a market cap of $50.93 billion, a PE ratio of 27.26, a PEG ratio of 4.50 and a beta of 1.03. The business’s 50-day moving average is $80.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.20.

Prologis (NYSE:PLD) last released its earnings results on Monday, July 15th. The real estate investment trust reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.16). Prologis had a return on equity of 6.55% and a net margin of 55.04%. The company had revenue of $700.69 million during the quarter, compared to analysts’ expectations of $704.19 million. During the same period in the prior year, the company posted $0.71 earnings per share. The company’s revenue was up 28.6% on a year-over-year basis. Research analysts forecast that Prologis Inc will post 3.28 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Wednesday, June 12th. Prologis’s payout ratio is currently 69.97%.

In other news, insider Edward S. Nekritz sold 30,671 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the transaction, the insider now directly owns 21,121 shares of the company’s stock, valued at $1,584,286.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Philip L. Hawkins sold 9,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total value of $708,480.00. Following the transaction, the director now directly owns 35,511 shares in the company, valued at $2,795,425.92. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 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 768 million square feet (71 million square meters) in 19 countries.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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