Employees Retirement System of Texas cut its stake in shares of Prologis Inc (NYSE:PLD) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 406,200 shares of the real estate investment trust’s stock after selling 31,500 shares during the period. Employees Retirement System of Texas’ holdings in Prologis were worth $26,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its position in Prologis by 75.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 1,152 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Prologis during the fourth quarter valued at approximately $200,000. Segment Wealth Management LLC purchased a new stake in Prologis during the third quarter valued at approximately $213,000. BB&T Securities LLC purchased a new stake in Prologis during the third quarter valued at approximately $213,000. Finally, ClariVest Asset Management LLC raised its position in Prologis by 30,750.0% during the third quarter. ClariVest Asset Management LLC now owns 3,702 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 3,690 shares during the period. Institutional investors and hedge funds own 93.45% of the company’s stock.
In related news, Director William D. Zollars sold 4,020 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total value of $243,129.60. Following the transaction, the director now owns 20,225 shares of the company’s stock, valued at $1,223,208. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Edward S. Nekritz sold 15,752 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total value of $1,016,161.52. Following the completion of the transaction, the insider now directly owns 146,414 shares in the company, valued at approximately $9,445,167.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,872 shares of company stock worth $6,843,648. Company insiders own 1.31% of the company’s stock.
A number of equities research analysts have issued reports on the company. Barclays restated an “overweight” rating and set a $72.00 price objective on shares of Prologis in a research report on Friday. Robert W. Baird upped their price objective on Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Jefferies Group restated a “neutral” rating on shares of Prologis in a research report on Wednesday, January 24th. Cantor Fitzgerald set a $69.00 price objective on Prologis and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, BMO Capital Markets set a $68.00 price objective on Prologis and gave the company a “buy” rating in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $67.56.
Shares of Prologis Inc (NYSE:PLD) opened at $61.98 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.51. Prologis Inc has a fifty-two week low of $48.80 and a fifty-two week high of $67.53. The firm has a market capitalization of $33,038.69, a P/E ratio of 20.25, a PEG ratio of 4.66 and a beta of 0.83.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The firm had revenue of $550.65 million for the quarter, compared to the consensus estimate of $533.54 million. During the same period in the prior year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. research analysts anticipate that Prologis Inc will post 2.9 EPS for the current year.
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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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