Calamos Advisors LLC lifted its position in Prologis, Inc. (NYSE:PLD – Get Rating) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,384 shares of the real estate investment trust’s stock after purchasing an additional 3,673 shares during the quarter. Calamos Advisors LLC’s holdings in Prologis were worth $16,046,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Prologis by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 97,672,838 shares of the real estate investment trust’s stock valued at $15,772,211,000 after purchasing an additional 1,814,967 shares during the period. State Street Corp grew its position in Prologis by 10.4% in the first quarter. State Street Corp now owns 51,717,111 shares of the real estate investment trust’s stock valued at $8,351,279,000 after acquiring an additional 4,861,668 shares during the period. Cohen & Steers Inc. raised its stake in Prologis by 23.5% during the first quarter. Cohen & Steers Inc. now owns 18,488,000 shares of the real estate investment trust’s stock worth $2,985,801,000 after acquiring an additional 3,513,643 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Prologis by 2.4% during the first quarter. Invesco Ltd. now owns 12,780,479 shares of the real estate investment trust’s stock valued at $2,063,792,000 after acquiring an additional 294,825 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Prologis by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 10,990,254 shares of the real estate investment trust’s stock valued at $1,774,706,000 after purchasing an additional 231,135 shares in the last quarter. 94.01% of the stock is owned by institutional investors.
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Analyst Ratings Changes
A number of equities research analysts recently issued reports on PLD shares. Royal Bank of Canada dropped their target price on shares of Prologis from $172.00 to $154.00 and set an “outperform” rating for the company in a research report on Wednesday, October 5th. Citigroup initiated coverage on Prologis in a report on Monday, October 3rd. They issued a “buy” rating and a $120.00 target price on the stock. StockNews.com assumed coverage on Prologis in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Wolfe Research upgraded Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Wednesday, August 24th. Finally, Truist Financial cut their price target on Prologis from $150.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $159.75.
Prologis Trading Down 2.9 %
Shares of NYSE PLD opened at $99.53 on Monday. The company’s 50 day simple moving average is $118.95 and its 200 day simple moving average is $129.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.42 and a quick ratio of 0.42. Prologis, Inc. has a fifty-two week low of $98.03 and a fifty-two week high of $174.54. The firm has a market capitalization of $73.69 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.22 and a beta of 0.95.
Prologis (NYSE:PLD – Get Rating) last posted its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.30). The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.09 billion. Prologis had a net margin of 75.72% and a return on equity of 9.85%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. On average, analysts predict that Prologis, Inc. will post 5.12 EPS for the current year.
Prologis Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Wednesday, September 14th. Prologis’s dividend payout ratio (DPR) is currently 63.20%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
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