MEAG MUNICH ERGO AssetManagement GmbH continued to hold its stake in Prologis, Inc. (NYSE:PLD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 358,041 shares of the real estate investment trust’s stock at the end of the second quarter. Prologis makes up approximately 10.4% of MEAG MUNICH ERGO AssetManagement GmbH’s portfolio, making the stock its 4th largest position. MEAG MUNICH ERGO AssetManagement GmbH owned 0.07% of Prologis worth $20,995,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. purchased a new stake in Prologis during the first quarter worth about $227,403,000. Graybill Bartz & Assoc Ltd. boosted its stake in Prologis by 2.3% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 49,830 shares of the real estate investment trust’s stock worth $2,585,000 after buying an additional 1,100 shares during the period. Capital Impact Advisors LLC purchased a new stake in Prologis during the first quarter worth about $1,775,000. Sprott Inc. purchased a new stake in Prologis during the first quarter worth about $306,000. Finally, Ameriprise Financial Inc. boosted its stake in Prologis by 13.4% in the first quarter. Ameriprise Financial Inc. now owns 3,578,338 shares of the real estate investment trust’s stock worth $185,307,000 after buying an additional 422,806 shares during the period. Institutional investors own 95.30% of the company’s stock.
Prologis, Inc. (NYSE:PLD) opened at 59.71 on Friday. The firm has a market cap of $31.76 billion, a price-to-earnings ratio of 26.80 and a beta of 0.94. The company has a 50-day moving average of $59.49 and a 200 day moving average of $54.65. Prologis, Inc. has a 52-week low of $45.93 and a 52-week high of $61.81.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576 million. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. On average, equities research analysts anticipate that Prologis, Inc. will post ($0.27) EPS for the current year.
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PLD has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Prologis from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. Bank of America Corporation raised shares of Prologis from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $65.00 in a research report on Friday, June 23rd. Stifel Nicolaus upped their price objective on shares of Prologis from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 30th. BidaskClub lowered shares of Prologis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $59.00 price objective on shares of Prologis in a research report on Thursday, June 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Prologis presently has an average rating of “Buy” and an average price target of $59.60.
In other Prologis news, Director Carl B. Webb sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the sale, the director now directly owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward S. Nekritz sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $55.31, for a total transaction of $1,382,750.00. Following the sale, the insider now directly owns 199,950 shares in the company, valued at $11,059,234.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 483,807 shares of company stock valued at $27,400,851. 1.31% of the stock is owned by corporate insiders.
Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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