Presima Inc. increased its position in shares of Prologis, Inc. (NYSE:PLD) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,374,300 shares of the real estate investment trust’s stock after buying an additional 75,600 shares during the period. Prologis makes up 11.2% of Presima Inc.’s investment portfolio, making the stock its largest position. Presima Inc. owned 0.26% of Prologis worth $80,589,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Macquarie Group Ltd. boosted its stake in shares of 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 period. Pensionfund Sabic raised its stake in shares of Prologis by 10.0% in the first quarter. Pensionfund Sabic now owns 33,000 shares of the real estate investment trust’s stock valued at $1,712,000 after buying an additional 3,000 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Prologis by 45.7% in the first quarter. Foundry Partners LLC now owns 134,100 shares of the real estate investment trust’s stock valued at $6,957,000 after buying an additional 42,050 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of 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 valued at $23,674,000 after buying an additional 14,610 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 95.57% of the company’s stock.
Shares of Prologis, Inc. (NYSE:PLD) traded down 0.11% during midday trading on Friday, hitting $61.23. 1,993,934 shares of the stock were exchanged. The company has a market cap of $32.57 billion, a PE ratio of 27.48 and a beta of 0.94. Prologis, Inc. has a 12-month low of $45.93 and a 12-month high of $62.87. The firm has a 50-day moving average price of $59.89 and a 200-day moving average price of $55.04.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The company had revenue of $766.18 million for the quarter, compared to the consensus estimate of $576 million. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was up 27.2% compared to the same quarter last year. On average, equities analysts predict that Prologis, Inc. will post ($0.27) EPS for the current year.
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A number of equities analysts recently issued reports on PLD shares. Bank of America Corporation upgraded Prologis from a “neutral” rating to a “buy” rating and raised their target price for the stock from $58.00 to $65.00 in a research note on Friday, June 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $60.00 price objective on shares of Prologis in a research note on Thursday, July 6th. BidaskClub cut Prologis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Wednesday, June 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $60.00 price objective (up from $54.00) on shares of Prologis in a report on Sunday, June 25th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $59.60.
In other news, Director Carl B. Webb sold 20,000 shares of the firm’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 completion of the transaction, the director now directly owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hamid R. Moghadam sold 271,788 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $56.04, for a total transaction of $15,230,999.52. Following the transaction, the chief executive officer now directly owns 36,997 shares of the company’s stock, valued at $2,073,311.88. The disclosure for this sale can be found here. Insiders sold a total of 458,807 shares of company stock worth $26,018,101 over the last quarter. 1.31% of the stock is currently owned by corporate insiders.
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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