Two Sigma Securities LLC purchased a new stake in shares of ProLogis, Inc. (NYSE:PLD) during the third quarter, Holdings Channel reports. The fund purchased 6,933 shares of the company’s stock, valued at approximately $371,000.
A number of other institutional investors have also recently added to or reduced their stakes in PLD. Checchi Capital Advisers LLC boosted its position in ProLogis by 13.9% in the second quarter. Checchi Capital Advisers LLC now owns 5,258 shares of the company’s stock valued at $258,000 after buying an additional 643 shares in the last quarter. Bank of Montreal Can bought a new position in shares of ProLogis during the second quarter worth approximately $51,727,000. Conning Inc. boosted its position in shares of ProLogis by 2.4% in the second quarter. Conning Inc. now owns 14,299 shares of the company’s stock worth $701,000 after buying an additional 330 shares during the period. Candriam Luxembourg S.C.A. boosted its position in shares of ProLogis by 14.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 21,625 shares of the company’s stock worth $1,061,000 after buying an additional 2,773 shares during the period. Finally, Resolution Capital Ltd boosted its position in shares of ProLogis by 19.3% in the second quarter. Resolution Capital Ltd now owns 768,812 shares of the company’s stock worth $37,703,000 after buying an additional 124,455 shares during the period. Institutional investors and hedge funds own 99.06% of the company’s stock.
ProLogis, Inc. (NYSE:PLD) traded up 0.61% during mid-day trading on Wednesday, reaching $52.85. The company’s stock had a trading volume of 3,233,400 shares. The stock’s 50 day moving average is $52.21 and its 200 day moving average is $51.93. ProLogis, Inc. has a one year low of $35.25 and a one year high of $54.87. The firm has a market cap of $27.94 billion, a PE ratio of 31.57 and a beta of 1.10.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Monday, December 19th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Thursday, December 15th. ProLogis’s payout ratio is currently 101.21%.
A number of equities analysts have recently commented on PLD shares. Zacks Investment Research upgraded ProLogis from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Thursday, November 17th. Capital One Financial Corporation upgraded ProLogis from an “underweight” rating to an “equal weight” rating and set a $53.00 target price for the company in a report on Monday, October 17th. Evercore ISI upgraded ProLogis from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Tuesday, October 18th. BTIG Research reiterated a “positive” rating on shares of ProLogis in a report on Thursday, October 20th. Finally, Cantor Fitzgerald set a $55.00 target price on ProLogis and gave the stock a “buy” rating in a report on Thursday, October 20th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average 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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