Standard Life Aberdeen plc cut its position in shares of Prologis Inc (NYSE:PLD) by 39.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,193,602 shares of the real estate investment trust’s stock after selling 1,459,118 shares during the quarter. Standard Life Aberdeen plc owned approximately 0.41% of Prologis worth $141,542,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. APG Asset Management US Inc. grew its holdings in Prologis by 8.0% in the third quarter. APG Asset Management US Inc. now owns 17,942,319 shares of the real estate investment trust’s stock valued at $1,138,620,000 after purchasing an additional 1,330,850 shares during the period. Wells Fargo & Company MN grew its holdings in Prologis by 43.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,291,408 shares of the real estate investment trust’s stock valued at $212,329,000 after purchasing an additional 1,000,145 shares during the period. JPMorgan Chase & Co. grew its holdings in Prologis by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 11,786,598 shares of the real estate investment trust’s stock valued at $749,039,000 after purchasing an additional 463,559 shares during the period. BlackRock Inc. grew its holdings in Prologis by 0.8% in the fourth quarter. BlackRock Inc. now owns 53,388,532 shares of the real estate investment trust’s stock valued at $3,444,094,000 after purchasing an additional 430,576 shares during the period. Finally, APG Asset Management N.V. grew its holdings in Prologis by 17.3% in the fourth quarter. APG Asset Management N.V. now owns 2,807,881 shares of the real estate investment trust’s stock valued at $150,846,000 after purchasing an additional 414,703 shares during the period. Institutional investors and hedge funds own 93.45% of the company’s stock.
In other Prologis news, CFO Thomas S. Olinger sold 46,200 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $66.33, for a total transaction of $3,064,446.00. Following the completion of the sale, the chief financial officer now directly owns 36,325 shares in the company, valued at $2,409,437.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eugene F. Reilly sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $66.61, for a total transaction of $999,150.00. Following the sale, the chief executive officer now owns 63,365 shares of the company’s stock, valued at $4,220,742.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,872 shares of company stock valued at $6,843,648. 1.31% of the stock is owned by insiders.
Shares of Prologis Inc (NYSE:PLD) opened at $60.48 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.68 and a current ratio of 0.68. Prologis Inc has a 52 week low of $48.80 and a 52 week high of $67.53. The stock has a market cap of $32,638.90, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83.
Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Prologis had a net margin of 63.11% and a return on equity of 9.12%. The company had revenue of $550.65 million during the quarter, compared to the consensus estimate of $533.54 million. During the same period in the previous year, the firm earned $0.63 earnings per share. Prologis’s revenue for the quarter was down 1.6% on a year-over-year basis. sell-side analysts predict that Prologis Inc will post 2.9 EPS for the current year.
A number of equities research analysts recently issued reports on the stock. KeyCorp restated a “buy” rating and issued a $72.00 target price on shares of Prologis in a report on Thursday, December 21st. Barclays restated an “overweight” rating and issued a $72.00 target price on shares of Prologis in a report on Friday, February 16th. Cantor Fitzgerald set a $69.00 target price on shares of Prologis and gave the company a “buy” rating in a report on Tuesday, January 23rd. BMO Capital Markets set a $68.00 target price on shares of Prologis and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, Jefferies Group restated a “neutral” rating on shares of Prologis in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $67.56.
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Prologis Company Profile
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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