Utah Retirement Systems raised its holdings in Prologis Inc (NYSE:PLD) by 19.0% during the third quarter, HoldingsChannel reports. The firm owned 138,764 shares of the real estate investment trust’s stock after purchasing an additional 22,170 shares during the quarter. Utah Retirement Systems’ holdings in Prologis were worth $9,407,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its holdings in Prologis by 13.9% in the 3rd quarter. BlackRock Inc. now owns 65,329,786 shares of the real estate investment trust’s stock valued at $4,428,704,000 after purchasing an additional 7,959,713 shares in the last quarter. FMR LLC lifted its position in shares of Prologis by 24.0% during the 3rd quarter. FMR LLC now owns 19,644,732 shares of the real estate investment trust’s stock valued at $1,331,716,000 after acquiring an additional 3,801,952 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Prologis by 118.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,082,538 shares of the real estate investment trust’s stock valued at $1,158,026,000 after acquiring an additional 9,255,117 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Prologis by 20.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,504,535 shares of the real estate investment trust’s stock valued at $644,290,000 after acquiring an additional 1,603,625 shares during the period. Finally, Cbre Clarion Securities LLC lifted its position in shares of Prologis by 2.7% during the 2nd quarter. Cbre Clarion Securities LLC now owns 7,919,441 shares of the real estate investment trust’s stock valued at $520,228,000 after acquiring an additional 210,819 shares during the period. 94.94% of the stock is currently owned by institutional investors.
Shares of Prologis stock opened at $66.02 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.32 and a quick ratio of 0.32. Prologis Inc has a 1 year low of $58.28 and a 1 year high of $68.95. The company has a market cap of $42.09 billion, a P/E ratio of 23.49, a P/E/G ratio of 4.40 and a beta of 0.75.
Prologis (NYSE:PLD) last issued its quarterly earnings data 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. Prologis had a return on equity of 6.65% and a net margin of 51.66%. The firm had revenue of $611.00 million during the quarter, compared to the consensus estimate of $582.23 million. During the same period in the previous year, the firm posted $1.63 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, analysts forecast that Prologis Inc will post 3.02 EPS for the current fiscal year.
In related news, insider Edward S. Nekritz sold 18,099 shares of Prologis stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $67.66, for a total transaction of $1,224,578.34. Following the completion of the transaction, the insider now directly owns 106,102 shares in the company, valued at approximately $7,178,861.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,008,000.00. Following the transaction, the chief executive officer now owns 36,685 shares of the company’s stock, valued at $2,465,232. The disclosure for this sale can be found here. Insiders have sold a total of 52,907 shares of company stock valued at $3,565,328 over the last 90 days. Insiders own 1.31% of the company’s stock.
PLD has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Prologis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Scotiabank initiated coverage on shares of Prologis in a research report on Tuesday, October 16th. They set a “sector perform” rating for the company. Deutsche Bank lifted their price target on shares of Prologis from $66.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, August 24th. ValuEngine upgraded shares of Prologis from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, JPMorgan Chase & Co. set a $72.00 price target on shares of Prologis and gave the company a “buy” rating in a research report on Thursday, August 23rd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Prologis has a consensus rating of “Buy” and an average target price of $71.93.
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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 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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