QRG Capital Management Inc. Decreases Stock Holdings in Prologis, Inc. $PLD

by · The Markets Daily

QRG Capital Management Inc. lowered its position in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 17.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 98,153 shares of the real estate investment trust’s stock after selling 20,880 shares during the quarter. QRG Capital Management Inc.’s holdings in Prologis were worth $11,241,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. raised its stake in shares of Prologis by 16.7% in the third quarter. D.A. Davidson & CO. now owns 587,157 shares of the real estate investment trust’s stock worth $67,241,000 after purchasing an additional 83,966 shares during the last quarter. Generali Asset Management SPA SGR raised its position in Prologis by 33.4% in the 3rd quarter. Generali Asset Management SPA SGR now owns 100,314 shares of the real estate investment trust’s stock worth $11,488,000 after buying an additional 25,133 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Prologis during the 2nd quarter valued at about $875,000. Verity & Verity LLC boosted its holdings in shares of Prologis by 42.8% during the 3rd quarter. Verity & Verity LLC now owns 165,438 shares of the real estate investment trust’s stock valued at $18,946,000 after acquiring an additional 49,604 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Prologis by 36.7% in the third quarter. DAVENPORT & Co LLC now owns 50,912 shares of the real estate investment trust’s stock worth $5,830,000 after acquiring an additional 13,666 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Up 0.3%

NYSE PLD opened at $133.21 on Friday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $134.94. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $123.74 billion, a P/E ratio of 38.84, a price-to-earnings-growth ratio of 3.91 and a beta of 1.40. The stock’s 50-day moving average price is $127.86 and its 200-day moving average price is $118.49.

Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.21 billion during the quarter. On average, equities research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.0%. Prologis’s payout ratio is 117.78%.

Insider Buying and Selling at Prologis

In related news, Director James B. Connor sold 80,000 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the transaction, the director directly owned 8,208 shares in the company, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 81,121 shares of company stock valued at $10,267,210 in the last ninety days. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BTIG Research increased their price objective on shares of Prologis from $134.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 31st. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research note on Monday, October 20th. Evercore ISI upped their price objective on Prologis from $116.00 to $118.00 in a research report on Monday, December 22nd. Truist Financial restated a “buy” rating and set a $131.00 price target (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. Finally, Baird R W cut shares of Prologis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.31.

Get Our Latest Stock Report on PLD

Prologis Company Profile

(Free Report)

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.

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