Teacher Retirement System of Texas trimmed its position in Prologis Inc (NYSE:PLD) by 11.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 783,845 shares of the real estate investment trust’s stock after selling 100,666 shares during the quarter. Teacher Retirement System of Texas’ holdings in Prologis were worth $51,491,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in PLD. McKinley Carter Wealth Services Inc. acquired a new stake in Prologis in the first quarter worth about $106,000. Signaturefd LLC acquired a new stake in Prologis in the first quarter worth about $142,000. Summit Trail Advisors LLC increased its position in Prologis by 6,714.8% in the first quarter. Summit Trail Advisors LLC now owns 144,950 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 142,823 shares during the period. Smithfield Trust Co. increased its position in Prologis by 85.5% in the second quarter. Smithfield Trust Co. now owns 2,319 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 1,069 shares during the period. Finally, IFP Advisors Inc increased its position in Prologis by 50.7% in the first quarter. IFP Advisors Inc now owns 2,809 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 945 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.
PLD has been the subject of a number of research reports. Robert W. Baird reiterated a “buy” rating and issued a $73.00 price objective on shares of Prologis in a research report on Monday, July 23rd. Jefferies Financial Group reiterated a “$62.97” rating and issued a $79.00 price objective on shares of Prologis in a research report on Wednesday, July 18th. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, May 15th. BMO Capital Markets reiterated a “buy” rating on shares of Prologis in a research report on Friday, May 18th. Finally, Citigroup reiterated a “buy” rating on shares of Prologis in a research report on Monday, April 30th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $70.33.
In other news, insider Michael S. Curless sold 14,568 shares of the business’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $66.07, for a total transaction of $962,507.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward S. Nekritz sold 22,213 shares of the business’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $64.87, for a total value of $1,440,957.31. Following the transaction, the insider now owns 124,201 shares of the company’s stock, valued at $8,056,918.87. The disclosure for this sale can be found here. Insiders have sold a total of 49,654 shares of company stock valued at $3,215,404 over the last 90 days. Corporate insiders own 1.31% of the company’s stock.
Prologis stock opened at $64.57 on Friday. The stock has a market cap of $34.86 billion, a PE ratio of 22.98, a P/E/G ratio of 4.64 and a beta of 0.80. Prologis Inc has a 1 year low of $58.28 and a 1 year high of $67.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.71. The company had revenue of $621.00 million during the quarter, compared to analyst estimates of $557.43 million. Prologis had a return on equity of 10.11% and a net margin of 74.17%. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. equities analysts forecast that Prologis Inc will post 3.01 EPS for the current year.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 683 million square feet (63 million square meters) in 19 countries.
Further Reading: Average Daily Trade Volume – ADTV
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