Gerber Kawasaki Wealth & Investment Management reduced its position in shares of Prologis Inc. (NYSE:PLD) by 31.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,039 shares of the company’s stock after selling 4,605 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Prologis were worth $492,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in PLD. Daiwa Securities Group Inc. raised its stake in shares of 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. Creative Planning raised its stake in shares of Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares in the last quarter. Resolution Capital Ltd raised its stake in shares of Prologis by 19.3% in the second quarter. Resolution Capital Ltd now owns 768,812 shares of the company’s stock worth $37,703,000 after buying an additional 124,455 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Prologis by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 448,796 shares of the company’s stock worth $22,009,000 after buying an additional 6,003 shares in the last quarter. Finally, Commonwealth Equity Services Inc raised its stake in shares of Prologis by 19.9% in the first quarter. Commonwealth Equity Services Inc now owns 6,559 shares of the company’s stock worth $290,000 after buying an additional 1,087 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.
Shares of Prologis Inc. (NYSE:PLD) traded up 0.73% during mid-day trading on Monday, reaching $51.24. The company had a trading volume of 1,216,074 shares. Prologis Inc. has a 52-week low of $35.25 and a 52-week high of $54.87. The company’s 50-day moving average is $52.41 and its 200 day moving average is $49.81. The stock has a market capitalization of $27.00 billion, a P/E ratio of 31.28 and a beta of 1.30.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Thursday, September 15th. Prologis’s payout ratio is 103.07%.
PLD has been the topic of a number of analyst reports. Wells Fargo & Co. reaffirmed a “neutral” rating on shares of Prologis in a report on Sunday, September 4th. Capital One Financial Corp. lowered Prologis from an “equal weight” rating to an “underweight” rating and set a $48.00 price target on the stock. in a research note on Monday, August 8th. Credit Suisse Group AG lowered Prologis from an “outperform” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research note on Wednesday, July 20th. BTIG Research began coverage on Prologis in a research note on Thursday, August 25th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Bank of America Corp. lowered Prologis from a “buy” rating to a “neutral” rating in a research note on Friday, June 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company. Prologis currently has an average rating of “Hold” and an average price target of $50.26.
In related news, CEO Hamid R. Moghadam sold 446,991 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $54.35, for a total transaction of $24,293,960.85. Following the completion of the sale, the chief executive officer now directly owns 446,991 shares in the company, valued at $24,293,960.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary E. Anderson sold 33,043 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $54.28, for a total transaction of $1,793,574.04. The disclosure for this sale can be found here. Corporate insiders own 1.29% of the company’s stock.
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.