Gerber Kawasaki Wealth & Investment Management increased its position in Prologis Inc (NYSE:PLD) by 81.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,350 shares of the real estate investment trust’s stock after buying an additional 3,750 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Prologis were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in the company. Avitas Wealth Management LLC increased its stake in shares of Prologis by 0.3% in the first quarter. Avitas Wealth Management LLC now owns 40,105 shares of the real estate investment trust’s stock valued at $2,886,000 after buying an additional 138 shares during the period. Ashfield Capital Partners LLC increased its stake in shares of Prologis by 1.8% in the first quarter. Ashfield Capital Partners LLC now owns 8,550 shares of the real estate investment trust’s stock valued at $615,000 after buying an additional 155 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of Prologis by 13.5% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,389 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 165 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Prologis by 35.5% in the fourth quarter. Proficio Capital Partners LLC now owns 679 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 178 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Prologis by 0.5% in the first quarter. Oppenheimer & Co. Inc. now owns 38,722 shares of the real estate investment trust’s stock valued at $2,786,000 after buying an additional 210 shares during the period. 94.95% of the stock is owned by institutional investors.
In other Prologis news, insider Edward S. Nekritz sold 30,671 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the transaction, the insider now directly owns 21,121 shares in the company, valued at approximately $1,584,286.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward S. Nekritz sold 16,059 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $71.86, for a total value of $1,153,999.74. Following the completion of the transaction, the insider now owns 51,792 shares in the company, valued at $3,721,773.12. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Shares of Prologis stock traded up $1.47 on Thursday, reaching $76.77. 246,555 shares of the company’s stock were exchanged, compared to its average volume of 2,441,683. The stock has a market capitalization of $47.35 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 4.17 and a beta of 1.03. Prologis Inc has a 52 week low of $55.21 and a 52 week high of $78.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.36 and a current ratio of 0.36.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $696.80 million for the quarter, compared to analysts’ expectations of $687.21 million. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. On average, equities research analysts forecast that Prologis Inc will post 3.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Wednesday, June 12th. Prologis’s payout ratio is 69.97%.
A number of analysts have weighed in on the stock. Citigroup raised shares of Prologis to a “buy” rating in a research report on Wednesday, May 1st. Goldman Sachs Group assumed coverage on shares of Prologis in a research report on Wednesday. They set a “conviction-buy” rating for the company. Zacks Investment Research raised shares of Prologis from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Friday, April 26th. KeyCorp set a $79.00 target price on shares of Prologis and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets reissued a “buy” rating and set a $70.00 target price on shares of Prologis in a research report on Sunday, April 21st. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $74.15.
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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.
Further Reading: Fundamental Analysis and Individual Investors
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