Resolution Capital Ltd increased its position in shares of Prologis Inc. (NYSE:PLD) by 19.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 768,812 shares of the company’s stock after buying an additional 124,455 shares during the period. Prologis comprises approximately 2.5% of Resolution Capital Ltd’s portfolio, making the stock its 16th largest position. Resolution Capital Ltd owned 0.15% of Prologis worth $37,703,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. Candriam Luxembourg S.C.A. raised its position in Prologis by 14.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 21,625 shares of the company’s stock worth $1,061,000 after buying an additional 2,773 shares in the last quarter. Conning Inc. raised its position in Prologis by 2.4% in the second quarter. Conning Inc. now owns 14,299 shares of the company’s stock worth $701,000 after buying an additional 330 shares in the last quarter. Bank of Montreal Can bought a new position in Prologis during the second quarter worth about $51,727,000. Daiwa Securities Group Inc. raised its position in Prologis by 106.2% in the second quarter. Daiwa Securities Group Inc. now owns 15,437,311 shares of the company’s stock worth $757,046,000 after buying an additional 7,950,874 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in Prologis by 506.1% in the second quarter. Meeder Asset Management Inc. now owns 22,832 shares of the company’s stock worth $1,119,000 after buying an additional 19,065 shares in the last quarter. Institutional investors and hedge funds own 99.84% of the company’s stock, as Community Financial discloses.
Shares of Prologis Inc. (NYSE:PLD) traded down 1.32% on Thursday, hitting $53.79. The stock had a trading volume of 1,789,024 shares. Prologis Inc. has a one year low of $35.25 and a one year high of $54.87. The company has a market capitalization of $28.34 billion, a P/E ratio of 32.84 and a beta of 1.32. The firm has a 50 day moving average price of $53.31 and a 200 day moving average price of $49.17.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. Prologis had a return on equity of 4.76% and a net margin of 35.66%. The firm had revenue of $602 million for the quarter, compared to the consensus estimate of $221.07 million. During the same quarter in the prior year, the business earned $0.14 EPS. On average, equities research analysts predict that Prologis Inc. will post ($0.27) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, September 15th. Prologis’s dividend payout ratio is 103.07%.
A number of research analysts recently issued reports on the company. Morgan Stanley set a $58.00 price objective on Prologis and gave the company a “buy” rating in a research report on Tuesday, September 6th. Wells Fargo & Co. reaffirmed a “neutral” rating on shares of Prologis in a research note on Sunday, September 4th. BTIG Research began coverage on Prologis in a research note on Thursday, August 25th. They set a “buy” rating and a $60.00 target price on the stock. Robert W. Baird downgraded Prologis from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $52.00 to $54.00 in a research note on Wednesday, August 17th. Finally, Capital One Financial Corp. downgraded Prologis from an “equal weight” rating to an “underweight” rating and set a $48.00 target price on the stock. in a research note on Monday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. Prologis has an average rating of “Hold” and a consensus target price of $50.26.
In other Prologis news, CEO Hamid R. Moghadam sold 37,673 shares of the company’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $51.01, for a total transaction of $1,921,699.73. Following the transaction, the chief executive officer now owns 37,673 shares of the company’s stock, valued at approximately $1,921,699.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Hamid R. Moghadam sold 349,668 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $51.14, for a total value of $17,882,021.52. Following the transaction, the chief executive officer now directly owns 349,668 shares in the company, valued at approximately $17,882,021.52. The disclosure for this sale can be found here. Company insiders own 1.29% of the company’s stock.