Swiss National Bank Sells 45,800 Shares of Prologis Inc (NYSE:PLD)

Swiss National Bank lowered its stake in Prologis Inc (NYSE:PLD) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,055,487 shares of the real estate investment trust’s stock after selling 45,800 shares during the period. Swiss National Bank owned approximately 0.33% of Prologis worth $164,645,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Trust Co. increased its position in shares of Prologis by 2.8% in the second quarter. Cambridge Trust Co. now owns 304,162 shares of the real estate investment trust’s stock worth $24,364,000 after purchasing an additional 8,279 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Prologis by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 65,477 shares of the real estate investment trust’s stock worth $5,245,000 after purchasing an additional 392 shares during the period. FMR LLC increased its position in shares of Prologis by 3.9% in the first quarter. FMR LLC now owns 20,743,807 shares of the real estate investment trust’s stock worth $1,492,516,000 after purchasing an additional 769,477 shares during the period. Liberty Wealth Management LLC increased its position in shares of Prologis by 164.4% in the second quarter. Liberty Wealth Management LLC now owns 965 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 600 shares during the period. Finally, State Treasurer State of Michigan increased its position in shares of Prologis by 0.8% in the first quarter. State Treasurer State of Michigan now owns 181,611 shares of the real estate investment trust’s stock worth $13,067,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 95.35% of the company’s stock.

In other news, insider Eugene F. Reilly sold 12,500 shares of Prologis stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the sale, the insider now directly owns 10,685 shares of the company’s stock, valued at $873,178.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas S. Olinger sold 13,051 shares of Prologis stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total value of $1,073,444.75. Following the sale, the chief financial officer now directly owns 20,667 shares in the company, valued at $1,699,860.75. The disclosure for this sale can be found here. Insiders have sold 34,551 shares of company stock worth $2,803,425 over the last three months. Insiders own 1.10% of the company’s stock.

Several analysts recently weighed in on the company. Morgan Stanley raised their price objective on Prologis from $75.00 to $78.50 and gave the company an “overweight” rating in a research note on Monday, June 3rd. KeyCorp raised their price objective on Prologis from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Deutsche Bank raised their price objective on Prologis from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Goldman Sachs Group assumed coverage on Prologis in a research note on Wednesday, May 15th. They issued a “conviction-buy” rating on the stock. Finally, SunTrust Banks raised their price objective on Prologis from $81.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Prologis currently has an average rating of “Buy” and an average price target of $78.18.

NYSE:PLD traded up $1.18 during trading hours on Friday, hitting $82.39. The company’s stock had a trading volume of 4,320,800 shares, compared to its average volume of 2,107,453. The stock has a fifty day simple moving average of $81.33 and a 200-day simple moving average of $75.80. The company has a market capitalization of $50.65 billion, a P/E ratio of 27.19, a PEG ratio of 4.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.54 and a quick ratio of 0.54. Prologis Inc has a twelve month low of $55.21 and a twelve month high of $83.99.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Monday, July 15th. The real estate investment trust reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.16). Prologis had a net margin of 55.04% and a return on equity of 6.55%. The firm had revenue of $700.69 million for the quarter, compared to analyst estimates of $704.19 million. During the same period in the previous year, the business posted $0.71 earnings per share. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. On average, equities analysts predict that Prologis Inc will post 3.28 EPS for the current fiscal year.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 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 768 million square feet (71 million square meters) in 19 countries.

Featured Article: What Are Cryptocurrencies?

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.