United Services Automobile Association Boosts Position in Prologis Inc (PLD)

United Services Automobile Association raised its stake in Prologis Inc (NYSE:PLD) by 16.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 326,698 shares of the real estate investment trust’s stock after purchasing an additional 46,937 shares during the quarter. United Services Automobile Association owned approximately 0.05% of Prologis worth $22,147,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Standard Life Aberdeen plc lifted its holdings in Prologis by 33.6% during the 3rd quarter. Standard Life Aberdeen plc now owns 3,104,289 shares of the real estate investment trust’s stock worth $210,439,000 after purchasing an additional 780,029 shares during the last quarter. AMP Capital Investors Ltd increased its stake in shares of Prologis by 32.1% in the 3rd quarter. AMP Capital Investors Ltd now owns 3,327,008 shares of the real estate investment trust’s stock valued at $221,113,000 after purchasing an additional 807,623 shares during the last quarter. Blair William & Co. IL grew its position in Prologis by 34.2% during the 3rd quarter. Blair William & Co. IL now owns 5,566 shares of the real estate investment trust’s stock worth $377,000 after acquiring an additional 1,418 shares during the last quarter. Aviva PLC grew its position in Prologis by 12.8% during the 3rd quarter. Aviva PLC now owns 475,301 shares of the real estate investment trust’s stock worth $32,221,000 after acquiring an additional 53,883 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in Prologis by 12.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 39,679 shares of the real estate investment trust’s stock worth $2,690,000 after acquiring an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Shares of NYSE:PLD opened at $66.86 on Wednesday. Prologis Inc has a 12-month low of $58.28 and a 12-month high of $68.95. The stock has a market cap of $42.39 billion, a PE ratio of 23.79, a P/E/G ratio of 4.52 and a beta of 0.75. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.44.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company had revenue of $611.00 million for the quarter, compared to analysts’ expectations of $582.23 million. Prologis had a return on equity of 6.65% and a net margin of 51.66%. Prologis’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. As a group, analysts anticipate that Prologis Inc will post 3.02 EPS for the current year.

PLD has been the topic of a number of analyst reports. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Scotiabank assumed coverage on Prologis in a research note on Tuesday, October 16th. They set a “sector perform” rating on the stock. Deutsche Bank increased their price objective on Prologis from $66.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, August 24th. ValuEngine raised Prologis from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, SunTrust Banks set a $70.00 target price on Prologis and gave the company a “buy” rating in a report on Tuesday, August 7th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.93.

In other Prologis news, CEO Eugene F. Reilly sold 15,000 shares of Prologis stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 36,685 shares of the company’s stock, valued at approximately $2,465,232. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Edward S. Nekritz sold 18,099 shares of Prologis stock in a transaction that occurred 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 directly owns 106,102 shares in the company, valued at $7,178,861.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,907 shares of company stock worth $3,565,328. Insiders own 1.32% of the company’s stock.

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Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 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 771 million square feet (72 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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