First Midwest Bank Trust Division Takes Position in Prologis, Inc. (PLD)

First Midwest Bank Trust Division acquired a new position in shares of Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,158 shares of the real estate investment trust’s stock, valued at approximately $1,279,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLD. Bank of Nova Scotia raised its holdings in Prologis by 3.6% during the first quarter. Bank of Nova Scotia now owns 12,224 shares of the real estate investment trust’s stock worth $634,000 after buying an additional 420 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in Prologis by 2.8% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 93,659 shares of the real estate investment trust’s stock worth $4,859,000 after buying an additional 2,540 shares during the last quarter. Independent Portfolio Consultants Inc. raised its holdings in Prologis by 82.0% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock worth $159,000 after buying an additional 1,225 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in Prologis by 11.5% during the second quarter. Xact Kapitalforvaltning AB now owns 176,608 shares of the real estate investment trust’s stock worth $10,356,000 after buying an additional 18,223 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Prologis during the second quarter worth $416,000. Hedge funds and other institutional investors own 95.88% of the company’s stock.

Several research firms have weighed in on PLD. Citigroup Inc. upped their price objective on shares of Prologis from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. KeyCorp upped their price objective on shares of Prologis from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, October 16th. BMO Capital Markets started coverage on shares of Prologis in a report on Monday, September 11th. They issued an “outperform” rating and a $69.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $65.00 target price on shares of Prologis in a report on Thursday, September 21st. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $68.00 target price on shares of Prologis in a report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $64.31.

Prologis, Inc. (NYSE PLD) traded down 0.62% during trading on Monday, reaching $64.29. 40,658 shares of the company traded hands. Prologis, Inc. has a 52 week low of $45.93 and a 52 week high of $65.63. The firm has a market capitalization of $35.63 billion, a price-to-earnings ratio of 19.27 and a beta of 0.92. The company’s 50-day moving average price is $64.39 and its 200 day moving average price is $59.72.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.67. Prologis had a return on equity of 9.92% and a net margin of 68.50%. The business had revenue of $531.18 million during the quarter, compared to analyst estimates of $573.68 million. During the same quarter in the previous year, the firm earned $0.14 EPS. Prologis’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts expect that Prologis, Inc. will post ($0.27) EPS for the current year.

TRADEMARK VIOLATION WARNING: This news story was reported by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of United States and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.com-unik.info/2017/10/30/first-midwest-bank-trust-division-takes-position-in-prologis-inc-pld.html.

About Prologis

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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

What are top analysts saying about Prologis Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Prologis Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit