Moody National Bank Trust Division Continues to Hold Stake in Prologis Inc (PLD)
Moody National Bank Trust Division maintained its position in Prologis Inc (NYSE:PLD) during the first quarter, Holdings Channel reports. The institutional investor owned 16,430 shares of the real estate investment trust’s stock at the end of the first quarter. Moody National Bank Trust Division’s holdings in Prologis were worth $852,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DnB Asset Management AS raised its position in Prologis by 3.2% in the third quarter. DnB Asset Management AS now owns 55,298 shares of the real estate investment trust’s stock valued at $2,307,000 after buying an additional 1,700 shares during the period. Northpointe Capital LLC raised its position in Prologis by 4.5% in the third quarter. Northpointe Capital LLC now owns 91,802 shares of the real estate investment trust’s stock valued at $4,915,000 after buying an additional 3,935 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in Prologis by 147.8% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 390,467 shares of the real estate investment trust’s stock valued at $21,019,000 after buying an additional 232,867 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in Prologis during the third quarter valued at approximately $4,466,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Prologis by 2.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 167,049 shares of the real estate investment trust’s stock valued at $8,944,000 after buying an additional 3,468 shares during the period.
Prologis Inc (NYSE:PLD) traded down 0.193% during trading on Friday, reaching $54.425. The company had a trading volume of 1,658,858 shares. The stock has a 50 day moving average price of $51.77 and a 200 day moving average price of $51.15. Prologis Inc has a 12 month low of $44.36 and a 12 month high of $55.93. The firm has a market capitalization of $28.81 billion, a price-to-earnings ratio of 23.986 and a beta of 1.05.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, April 18th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Prologis had a return on equity of 6.62% and a net margin of 47.76%. The company had revenue of $629.16 million for the quarter, compared to analyst estimates of $555.37 million. During the same period last year, the company earned $0.61 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Prologis Inc will post ($0.27) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were issued a dividend of $0.44 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 3.23%. The ex-dividend date was Monday, March 13th. Prologis’s dividend payout ratio (DPR) is 74.67%.
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Several research analysts have commented on the company. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Friday. Evercore ISI boosted their target price on Prologis from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday. BTIG Research reissued a “buy” rating and issued a $57.00 target price on shares of Prologis in a report on Tuesday, April 11th. Barclays PLC reissued an “overweight” rating and issued a $54.00 target price (down previously from $58.00) on shares of Prologis in a report on Monday, January 23rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $52.00 target price on shares of Prologis in a report on Tuesday, February 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $54.07.
In other news, insider Edward S. Nekritz sold 84,434 shares of Prologis stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $51.45, for a total value of $4,344,129.30. Following the transaction, the insider now directly owns 202,115 shares in the company, valued at $10,398,816.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eugene F. Reilly sold 70,000 shares of Prologis stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $50.72, for a total value of $3,550,400.00. Following the completion of the transaction, the chief executive officer now owns 150,650 shares in the company, valued at $7,640,968. The disclosure for this sale can be found here. 1.29% of the stock is owned by company insiders.
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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