RMR Advisors LLC held its position in shares of Prologis Inc. (NYSE:PLD) during the third quarter, Holdings Channel reports. The institutional investor owned 49,088 shares of the company’s stock at the end of the third quarter. Prologis accounts for about 1.3% of RMR Advisors LLC’s portfolio, making the stock its 28th largest position. RMR Advisors LLC’s holdings in Prologis were worth $2,628,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Evercore Wealth Management LLC raised its position in shares of Prologis by 7.6% in the second quarter. Evercore Wealth Management LLC now owns 2,065 shares of the company’s stock worth $101,000 after buying an additional 145 shares in the last quarter. Solaris Asset Management LLC acquired a new position in shares of Prologis during the third quarter worth $131,000. Tower Research Capital LLC TRC acquired a new position in shares of Prologis during the second quarter worth $149,000. BBR Partners LLC acquired a new position in shares of Prologis during the second quarter worth $211,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Prologis during the third quarter worth $250,000. 99.06% of the stock is currently owned by institutional investors.
Prologis Inc. (NYSE:PLD) traded down 0.25% during trading on Thursday, reaching $52.72. The company had a trading volume of 1,818,084 shares. The firm has a 50-day moving average price of $52.23 and a 200 day moving average price of $51.93. Prologis Inc. has a 12-month low of $35.25 and a 12-month high of $54.87. The stock has a market cap of $27.87 billion, a P/E ratio of 31.49 and a beta of 1.10.
The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Monday, December 19th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Thursday, December 15th. Prologis’s dividend payout ratio is 101.21%.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Wednesday, December 21st. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and set a $55.00 target price on the stock in a research report on Monday, November 28th. Cantor Fitzgerald set a $55.00 target price on Prologis and gave the stock a “buy” rating in a research report on Thursday, October 20th. BTIG Research reaffirmed a “positive” rating and issued a $57.00 target price on shares of Prologis in a research report on Friday, November 11th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Prologis in a research report on Wednesday, November 2nd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $52.32.
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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