Groesbeck Investment Management Corp NJ bought a new position in shares of Prologis Inc (NYSE:PLD) in the 4th quarter, Holdings Channel reports. The firm bought 9,614 shares of the real estate investment trust’s stock, valued at approximately $620,000.
A number of other institutional investors have also bought and sold shares of PLD. Segment Wealth Management LLC purchased a new position in Prologis during the third quarter worth about $213,000. BB&T Securities LLC purchased a new position in Prologis during the third quarter worth about $213,000. ClariVest Asset Management LLC grew its position in Prologis by 30,750.0% during the third quarter. ClariVest Asset Management LLC now owns 3,702 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 3,690 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in Prologis during the third quarter worth about $247,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Prologis during the second quarter worth about $263,000. Institutional investors and hedge funds own 95.41% of the company’s stock.
In other news, Director William D. Zollars sold 4,020 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total value of $243,129.60. Following the completion of the sale, the director now owns 20,225 shares of the company’s stock, valued at approximately $1,223,208. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas S. Olinger sold 46,200 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $66.33, for a total value of $3,064,446.00. Following the completion of the sale, the chief financial officer now directly owns 36,325 shares of the company’s stock, valued at approximately $2,409,437.25. The disclosure for this sale can be found here. In the last three months, insiders sold 103,872 shares of company stock valued at $6,843,648. 1.31% of the stock is currently owned by corporate insiders.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Prologis had a return on equity of 9.11% and a net margin of 63.11%. The firm had revenue of $550.65 million during the quarter, compared to analysts’ expectations of $533.54 million. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. research analysts anticipate that Prologis Inc will post 2.9 earnings per share for the current fiscal year.
Several research firms recently commented on PLD. Barclays boosted their target price on Prologis from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Robert W. Baird boosted their target price on Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Jefferies Group reiterated a “neutral” rating on shares of Prologis in a report on Wednesday, January 24th. Cantor Fitzgerald set a $69.00 price objective on Prologis and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, BMO Capital Markets set a $68.00 price objective on Prologis and gave the stock a “buy” rating in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $67.06.
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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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