Meitav Investment House Ltd. Has $81.74 Million Stock Holdings in Prologis, Inc. $PLD

Meitav Investment House Ltd. raised its position in Prologis, Inc. (NYSE:PLD) by 9.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 715,384 shares of the real estate investment trust’s stock after buying an additional 64,000 shares during the quarter. Prologis comprises about 1.1% of Meitav Investment House Ltd.’s portfolio, making the stock its 25th largest holding. Meitav Investment House Ltd.’s holdings in Prologis were worth $81,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLD. Maryland State Retirement & Pension System boosted its holdings in shares of Prologis by 2.6% during the 3rd quarter. Maryland State Retirement & Pension System now owns 46,266 shares of the real estate investment trust’s stock valued at $5,298,000 after acquiring an additional 1,181 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Prologis by 18.0% during the third quarter. Sequoia Financial Advisors LLC now owns 23,545 shares of the real estate investment trust’s stock worth $2,696,000 after purchasing an additional 3,592 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in Prologis by 10.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 12,364 shares of the real estate investment trust’s stock valued at $1,416,000 after buying an additional 1,166 shares during the last quarter. Richardson Financial Services Inc. increased its position in Prologis by 38.9% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,061 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 297 shares during the period. Finally, Pinnacle Financial Partners Inc raised its stake in shares of Prologis by 11.0% during the third quarter. Pinnacle Financial Partners Inc now owns 2,418 shares of the real estate investment trust’s stock valued at $277,000 after acquiring an additional 239 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PLD. BTIG Research increased their price target on Prologis from $134.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Morgan Stanley set a $135.00 target price on Prologis in a report on Friday. Mizuho upped their target price on shares of Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Robert W. Baird reiterated a “neutral” rating and set a $130.00 price target (up previously from $128.00) on shares of Prologis in a research note on Thursday, January 8th. Finally, Scotiabank raised Prologis from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $133.00 to $146.00 in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.31.

Insiders Place Their Bets

In other news, Director James B. Connor sold 80,000 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 81,121 shares of company stock worth $10,267,210 in the last ninety days. Insiders own 0.57% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $133.21 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $123.74 billion, a price-to-earnings ratio of 38.84, a P/E/G ratio of 3.91 and a beta of 1.40. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $134.94. The firm’s 50-day simple moving average is $127.86 and its two-hundred day simple moving average is $118.49.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The company had revenue of $2.21 billion during the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. As a group, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a $1.01 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.0%. Prologis’s payout ratio is presently 117.78%.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.