US Bancorp DE grew its holdings in shares of Prologis Inc (NYSE:PLD) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,853 shares of the real estate investment trust’s stock after acquiring an additional 11,298 shares during the period. US Bancorp DE’s holdings in Prologis were worth $8,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of PLD. Advisors Preferred LLC grew its position in shares of Prologis by 141.1% during the 2nd quarter. Advisors Preferred LLC now owns 1,685 shares of the real estate investment trust’s stock valued at $111,000 after acquiring an additional 986 shares during the period. Palo Capital Inc. bought a new stake in shares of Prologis during the 3rd quarter valued at $150,000. Smithfield Trust Co. grew its position in shares of Prologis by 85.5% during the 2nd quarter. Smithfield Trust Co. now owns 2,319 shares of the real estate investment trust’s stock valued at $152,000 after acquiring an additional 1,069 shares during the period. Quadrant Capital Group LLC grew its position in shares of Prologis by 48.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,507 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 821 shares during the period. Finally, Kistler Tiffany Companies LLC bought a new stake in shares of Prologis during the 3rd quarter valued at $160,000. 81.38% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on PLD. ValuEngine raised shares of Prologis from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research cut shares of Prologis from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. BMO Capital Markets restated a “buy” rating and set a $70.00 target price on shares of Prologis in a research note on Tuesday, October 16th. Scotiabank initiated coverage on shares of Prologis in a research note on Tuesday, October 16th. They set a “sector perform” rating on the stock. Finally, Barclays restated a “buy” rating and set a $70.00 target price on shares of Prologis in a research note on Sunday, October 14th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.93.
In other Prologis news, insider Edward S. Nekritz sold 18,099 shares of the business’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $67.66, for a total value of $1,224,578.34. Following the sale, the insider now owns 106,102 shares in the company, valued at approximately $7,178,861.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eugene F. Reilly sold 15,000 shares of the business’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $67.20, for a total transaction of $1,008,000.00. Following the completion of the sale, the chief executive officer now owns 36,685 shares in the company, valued at approximately $2,465,232. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,907 shares of company stock worth $2,556,878. Corporate insiders own 1.31% of the company’s stock.
PLD opened at $67.57 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.32 and a current ratio of 0.32. Prologis Inc has a fifty-two week low of $58.28 and a fifty-two week high of $68.20. The firm has a market cap of $42.23 billion, a P/E ratio of 23.13, a PEG ratio of 4.42 and a beta of 0.71.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Prologis had a net margin of 51.66% and a return on equity of 6.65%. The company had revenue of $611.00 million for the quarter, compared to analysts’ expectations of $582.23 million. During the same quarter in the previous year, the company earned $1.63 EPS. Prologis’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts expect that Prologis Inc will post 3.02 earnings per share for the current year.
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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 685 million square feet (64 million square meters) in 19 countries.
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