Northpointe Capital LLC cut its stake in Prologis, Inc. (NYSE:PLD) by 10.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,165 shares of the real estate investment trust’s stock after selling 10,207 shares during the quarter. Northpointe Capital LLC’s holdings in Prologis were worth $5,278,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Wesbanco Bank Inc. increased its position in shares of Prologis by 76.9% during the second quarter. Wesbanco Bank Inc. now owns 29,900 shares of the real estate investment trust’s stock valued at $1,753,000 after acquiring an additional 13,000 shares during the last quarter. Swiss National Bank increased its position in shares of Prologis by 3.2% during the second quarter. Swiss National Bank now owns 1,933,060 shares of the real estate investment trust’s stock valued at $113,355,000 after acquiring an additional 60,000 shares during the last quarter. Cipher Capital LP increased its position in shares of Prologis by 98.1% during the second quarter. Cipher Capital LP now owns 44,673 shares of the real estate investment trust’s stock valued at $2,620,000 after acquiring an additional 22,120 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Prologis by 3,877.2% during the second quarter. Lazard Asset Management LLC now owns 2,533,654 shares of the real estate investment trust’s stock valued at $148,573,000 after acquiring an additional 2,469,949 shares during the last quarter. Finally, BlackRock Inc. increased its position in Prologis by 1.3% in the second quarter. BlackRock Inc. now owns 51,529,145 shares of the real estate investment trust’s stock worth $3,021,668,000 after buying an additional 673,429 shares during the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Prologis, Inc. (PLD) traded down $0.26 during mid-day trading on Friday, reaching $66.22. The company’s stock had a trading volume of 1,587,600 shares, compared to its average volume of 2,454,202. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.80 and a current ratio of 0.80. Prologis, Inc. has a 52-week low of $45.93 and a 52-week high of $67.10. The company has a market capitalization of $35,372.81, a price-to-earnings ratio of 24.00, a P/E/G ratio of 4.46 and a beta of 0.92.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The firm had revenue of $531.18 million during the quarter, compared to analyst estimates of $573.68 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. equities analysts expect that Prologis, Inc. will post 2.8 earnings per share for the current fiscal year.
A number of research firms have issued reports on PLD. Citigroup Inc. raised their target price on Prologis from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. KeyCorp raised their target price on Prologis from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. BMO Capital Markets initiated coverage on Prologis in a research report on Monday, September 11th. They issued an “outperform” rating and a $69.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $65.00 price target on shares of Prologis in a report on Thursday, September 21st. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $68.00 price target on shares of Prologis in a report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $65.50.
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Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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