Lenox Wealth Management Inc. Trims Stock Holdings in Prologis Inc (NYSE:PLD)

Lenox Wealth Management Inc. trimmed its position in Prologis Inc (NYSE:PLD) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,037 shares of the real estate investment trust’s stock after selling 173 shares during the period. Lenox Wealth Management Inc.’s holdings in Prologis were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Sandy Spring Bank purchased a new stake in shares of Prologis in the third quarter worth $33,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Prologis in the second quarter worth $39,000. Hexavest Inc. purchased a new stake in shares of Prologis in the second quarter worth $42,000. HM Payson & Co. purchased a new stake in shares of Prologis in the second quarter worth $43,000. Finally, Coastal Investment Advisors Inc. grew its stake in shares of Prologis by 1,772.2% in the second quarter. Coastal Investment Advisors Inc. now owns 674 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 638 shares during the last quarter. 95.64% of the stock is currently owned by institutional investors.

Shares of Prologis stock traded down $0.19 during trading on Friday, hitting $87.07. 1,919,897 shares of the company’s stock traded hands, compared to its average volume of 2,394,095. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.27 and a quick ratio of 1.27. Prologis Inc has a 1 year low of $55.21 and a 1 year high of $92.49. The stock has a market capitalization of $54.27 billion, a P/E ratio of 28.74, a PEG ratio of 4.52 and a beta of 0.99. The business has a 50-day simple moving average of $87.04 and a 200-day simple moving average of $81.66.

Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, October 15th. The real estate investment trust reported $0.71 EPS for the quarter, beating the consensus estimate of $0.48 by $0.23. Prologis had a return on equity of 6.92% and a net margin of 53.87%. The company had revenue of $712.00 million for the quarter, compared to analysts’ expectations of $715.40 million. During the same period last year, the firm posted $0.72 earnings per share. Prologis’s revenue was up 16.5% compared to the same quarter last year. On average, equities analysts predict that Prologis Inc will post 3.31 earnings per share for the current fiscal year.

A number of research firms have recently commented on PLD. SunTrust Banks increased their target price on Prologis from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Deutsche Bank increased their target price on Prologis from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Citigroup increased their target price on Prologis from $86.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barclays set a $92.00 target price on Prologis and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Evercore ISI raised Prologis from an “in-line” rating to an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Prologis presently has a consensus rating of “Buy” and an average price target of $88.58.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 768 million square feet (71 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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