Artemis Investment Management LLP lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 9.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 401,734 shares of the real estate investment trust’s stock after acquiring an additional 34,453 shares during the quarter. Artemis Investment Management LLP owned approximately 0.08% of Prologis worth $25,492,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning boosted its stake in shares of Prologis by 3.4% during the 2nd quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 69 shares during the period. Evercore Wealth Management LLC boosted its stake in shares of Prologis by 18.2% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock worth $134,000 after acquiring an additional 350 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in shares of Prologis by 82.0% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 1,225 shares during the period. Solaris Asset Management LLC boosted its stake in shares of Prologis by 11.0% during the 2nd quarter. Solaris Asset Management LLC now owns 3,135 shares of the real estate investment trust’s stock worth $184,000 after acquiring an additional 310 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Prologis by 40.7% during the 2nd quarter. IFP Advisors Inc now owns 3,164 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 915 shares during the period. Institutional investors own 95.88% of the company’s stock.
PLD has been the subject of several research analyst reports. BidaskClub downgraded Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Barclays PLC reiterated an “overweight” rating and set a $61.00 target price (up from $59.00) on shares of Prologis in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $66.00 target price (up from $59.00) on shares of Prologis in a research note on Thursday, August 24th. KeyCorp reiterated a “buy” rating and set a $65.00 target price on shares of Prologis in a research note on Sunday, August 27th. Finally, Wells Fargo & Company set a $65.00 price target on Prologis and gave the company a “hold” rating in a research note on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Prologis has a consensus rating of “Buy” and an average price target of $64.31.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.67. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The firm had revenue of $531.18 million during the quarter, compared to analyst estimates of $573.68 million. During the same period last year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis.
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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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