MainStreet Investment Advisors LLC Invests $485,000 in Prologis Inc (NYSE:PLD)

MainStreet Investment Advisors LLC bought a new position in shares of Prologis Inc (NYSE:PLD) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,039 shares of the real estate investment trust’s stock, valued at approximately $485,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Prologis by 18.6% during the first quarter. BlackRock Inc. now owns 73,711,651 shares of the real estate investment trust’s stock worth $5,924,207,000 after purchasing an additional 11,584,385 shares in the last quarter. FMR LLC increased its position in shares of Prologis by 2.4% during the fourth quarter. FMR LLC now owns 24,754,343 shares of the real estate investment trust’s stock worth $2,206,601,000 after purchasing an additional 585,434 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Prologis by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 12,504,908 shares of the real estate investment trust’s stock worth $1,114,687,000 after purchasing an additional 357,060 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Prologis by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 11,499,737 shares of the real estate investment trust’s stock worth $1,023,302,000 after purchasing an additional 626,534 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Prologis by 45.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 11,373,566 shares of the real estate investment trust’s stock worth $1,013,841,000 after purchasing an additional 3,533,938 shares in the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

In related news, Director Lydia H. Kennard sold 6,762 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $91.00, for a total transaction of $615,342.00. Following the transaction, the director now owns 43,024 shares of the company’s stock, valued at approximately $3,915,184. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

Shares of NYSE PLD traded up $1.15 during mid-day trading on Friday, reaching $87.55. 1,264,890 shares of the company’s stock were exchanged, compared to its average volume of 3,112,515. The firm has a market capitalization of $63.81 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 3.38 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.91 and a current ratio of 0.91. Prologis Inc has a 52-week low of $59.82 and a 52-week high of $99.79. The company’s 50-day moving average is $86.26 and its 200-day moving average is $87.86.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.11). Prologis had a return on equity of 6.00% and a net margin of 48.50%. The firm had revenue of $878.81 million for the quarter, compared to analyst estimates of $801.54 million. During the same period in the previous year, the company posted $0.73 EPS. Prologis’s revenue was up 26.1% on a year-over-year basis. As a group, equities analysts predict that Prologis Inc will post 3.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, June 15th. Prologis’s payout ratio is 70.09%.

PLD has been the subject of several research reports. Citigroup dropped their price target on Prologis from $105.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. KeyCorp boosted their price target on Prologis from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on Prologis from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Stifel Nicolaus upped their target price on Prologis from $76.00 to $85.00 and gave the company a “buy” rating in a report on Monday, April 6th. Finally, Morgan Stanley dropped their target price on Prologis from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Prologis presently has a consensus rating of “Buy” and an average price target of $94.80.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, 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 768 million square feet (71 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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