IBM Retirement Fund increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 121.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,873 shares of the real estate investment trust’s stock after buying an additional 7,049 shares during the period. IBM Retirement Fund’s holdings in Prologis were worth $844,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its stake in Prologis by 34.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,101,770 shares of the real estate investment trust’s stock valued at $58,162,000 after buying an additional 280,839 shares during the last quarter. Pensionfund Sabic raised its stake in Prologis by 10.0% in the first quarter. Pensionfund Sabic now owns 33,000 shares of the real estate investment trust’s stock worth $1,712,000 after buying an additional 3,000 shares during the last quarter. Foundry Partners LLC raised its stake in Prologis by 45.7% in the first quarter. Foundry Partners LLC now owns 134,100 shares of the real estate investment trust’s stock worth $6,957,000 after buying an additional 42,050 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Prologis by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 456,324 shares of the real estate investment trust’s stock worth $23,674,000 after buying an additional 14,610 shares during the last quarter. Finally, Creative Planning raised its stake in Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 234 shares during the last quarter. Institutional investors own 95.57% of the company’s stock.
Shares of Prologis, Inc. (NYSE PLD) traded down 0.11% during mid-day trading on Friday, hitting $61.23. The stock had a trading volume of 1,993,934 shares. Prologis, Inc. has a 52-week low of $45.93 and a 52-week high of $62.87. The stock has a 50 day moving average price of $59.89 and a 200-day moving average price of $55.04. The company has a market cap of $32.57 billion, a PE ratio of 27.48 and a beta of 0.94.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.06. The firm 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%. Prologis’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. On average, equities analysts expect that Prologis, Inc. will post ($0.27) earnings per share for the current fiscal year.
PLD has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Friday, April 21st. Citigroup Inc. increased their price target on Prologis from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 25th. Stifel Nicolaus raised their price objective on Prologis from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 30th. 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. Finally, BidaskClub downgraded Prologis from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Prologis presently has an average rating of “Buy” and a consensus target price of $59.60.
In other Prologis news, Director Carl B. Webb sold 20,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hamid R. Moghadam sold 14,067 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $56.00, for a total transaction of $787,752.00. Following the transaction, the chief executive officer now directly owns 3,267 shares of the company’s stock, valued at approximately $182,952. The disclosure for this sale can be found here. Insiders sold 458,807 shares of company stock valued at $26,018,101 over the last quarter. 1.31% of the stock is currently 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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