Tokio Marine Asset Management Co. Ltd. cut its position in Prologis Inc. (NYSE:PLD) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,050 shares of the company’s stock after selling 310 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Prologis were worth $738,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of 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 during the last quarter. Shinko Asset Management Co. Ltd. raised its stake in shares of Prologis by 19.7% in the second quarter. Shinko Asset Management Co. Ltd. now owns 10,726,986 shares of the company’s stock worth $526,051,000 after buying an additional 1,766,843 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Prologis by 15,634.1% in the first quarter. Renaissance Technologies LLC now owns 1,368,871 shares of the company’s stock worth $60,477,000 after buying an additional 1,360,171 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Prologis during the second quarter worth about $51,727,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Prologis by 19.4% in the first quarter. Nuveen Asset Management LLC now owns 5,505,142 shares of the company’s stock worth $243,217,000 after buying an additional 895,503 shares during the last quarter. 99.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Prologis Inc. (NYSE:PLD) traded down 0.55% on Thursday, hitting $50.21. The stock had a trading volume of 2,496,301 shares. Prologis Inc. has a 1-year low of $35.25 and a 1-year high of $54.87. The firm’s 50-day moving average is $52.95 and its 200 day moving average is $49.53. The stock has a market cap of $26.46 billion, a P/E ratio of 30.65 and a beta of 1.31.
Prologis (NYSE:PLD) last released its quarterly earnings results 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. The company earned $602 million during the quarter, compared to the consensus estimate of $221.07 million. Prologis had a return on equity of 4.76% and a net margin of 35.66%. During the same quarter in the prior year, the company posted $0.14 EPS. Equities analysts forecast that Prologis Inc. will post ($0.27) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, September 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.35%. Prologis’s dividend payout ratio (DPR) is presently 103.07%.
A number of analysts have issued reports on PLD shares. JPMorgan Chase & Co. reissued a “buy” rating on shares of Prologis in a research note on Wednesday, July 20th. Bank of America Corp. downgraded Prologis from a “buy” rating to a “neutral” rating in a report on Friday, June 24th. Deutsche Bank AG downgraded Prologis from a “buy” rating to a “hold” rating and raised their price objective for the stock from $48.00 to $50.00 in a report on Tuesday, June 21st. SunTrust Banks Inc. downgraded Prologis from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $35.25 to $49.11 in a report on Thursday, June 30th. Finally, Robert W. Baird downgraded Prologis from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $52.00 to $54.00 in a report on Wednesday, August 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.26.
In other news, CEO Hamid R. Moghadam sold 349,668 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $51.14, for a total transaction of $17,882,021.52. Following the completion of the sale, the chief executive officer now owns 349,668 shares in the company, valued at approximately $17,882,021.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary E. Anderson sold 33,043 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $54.28, for a total value of $1,793,574.04. The disclosure for this sale can be found here. 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.