Pacific Heights Asset Management LLC Has $22.58 Million Stake in Prologis Inc (PLD)

Pacific Heights Asset Management LLC lowered its holdings in Prologis Inc (NYSE:PLD) by 30.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the real estate investment trust’s stock after selling 150,000 shares during the period. Prologis makes up 2.2% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 10th biggest position. Pacific Heights Asset Management LLC’s holdings in Prologis were worth $22,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. National Asset Management Inc. lifted its holdings in shares of Prologis by 1.5% in the second quarter. National Asset Management Inc. now owns 5,137 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 75 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Prologis by 7.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,289 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 626 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of Prologis by 5.2% in the second quarter. Bank of Nova Scotia now owns 12,854 shares of the real estate investment trust’s stock valued at $754,000 after purchasing an additional 630 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Prologis by 8.6% in the third quarter. Advisor Group Inc. now owns 10,258 shares of the real estate investment trust’s stock valued at $652,000 after purchasing an additional 815 shares in the last quarter. Finally, Advisor Partners LLC lifted its holdings in shares of Prologis by 10.9% in the third quarter. Advisor Partners LLC now owns 8,325 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 819 shares in the last quarter. Institutional investors own 95.41% of the company’s stock.

Shares of Prologis Inc (NYSE PLD) opened at $58.33 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. Prologis Inc has a 1-year low of $48.80 and a 1-year high of $67.53. The stock has a market capitalization of $31,953.29, a price-to-earnings ratio of 19.06, a P/E/G ratio of 3.82 and a beta of 0.83.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 9.11% and a net margin of 63.11%. The business had revenue of $550.65 million during the quarter, compared to analyst estimates of $533.54 million. During the same period last year, the company earned $0.63 earnings per share. Prologis’s quarterly revenue was down 1.6% compared to the same quarter last year. analysts predict that Prologis Inc will post 2.9 EPS for the current year.

A number of research firms have recently issued reports on PLD. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. JPMorgan Chase & Co. lowered Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 target price for the company. in a report on Friday, December 15th. Citigroup increased their target price on Prologis from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. KeyCorp increased their target price on Prologis from $65.00 to $68.00 and gave the company a “buy” rating in a report on Monday, October 16th. Finally, BMO Capital Markets set a $69.00 target price on Prologis and gave the company a “buy” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Prologis currently has a consensus rating of “Buy” and an average target price of $67.06.

In other Prologis news, insider Edward S. Nekritz sold 15,752 shares of the stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $64.51, for a total transaction of $1,016,161.52. Following the transaction, the insider now directly owns 146,414 shares of the company’s stock, valued at $9,445,167.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Zollars sold 4,020 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total transaction of $243,129.60. Following the transaction, the director now directly owns 20,225 shares in the company, valued at $1,223,208. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,872 shares of company stock valued at $6,843,648. 1.31% of the stock is owned by corporate insiders.

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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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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