Banque Pictet & Cie SA Makes New $201,000 Investment in Prologis, Inc. (NYSE:PLD)

Banque Pictet & Cie SA bought a new position in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,000 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Other hedge funds have also bought and sold shares of the company. Blair William & Co. IL increased its stake in Prologis by 19.8% during the third quarter. Blair William & Co. IL now owns 11,511 shares of the real estate investment trust’s stock worth $1,158,000 after acquiring an additional 1,905 shares during the last quarter. Great Lakes Advisors LLC increased its stake in Prologis by 23.8% during the second quarter. Great Lakes Advisors LLC now owns 77,326 shares of the real estate investment trust’s stock worth $7,217,000 after acquiring an additional 14,886 shares during the last quarter. Waratah Capital Advisors Ltd. increased its stake in Prologis by 244.5% during the second quarter. Waratah Capital Advisors Ltd. now owns 35,090 shares of the real estate investment trust’s stock worth $3,275,000 after acquiring an additional 24,905 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Prologis by 12.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 64,221 shares of the real estate investment trust’s stock valued at $5,994,000 after buying an additional 7,264 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Prologis in the second quarter valued at $293,000. 94.75% of the stock is owned by institutional investors.

Prologis stock opened at $100.27 on Friday. Prologis, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $112.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $74.12 billion, a P/E ratio of 44.56, a PEG ratio of 3.60 and a beta of 0.90. The stock has a 50-day simple moving average of $103.35 and a 200-day simple moving average of $98.17.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 20th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.48). Prologis had a net margin of 43.27% and a return on equity of 5.55%. The firm had revenue of $984.00 million during the quarter, compared to analysts’ expectations of $955.32 million. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, analysts forecast that Prologis, Inc. will post 3.7 earnings per share for the current year.

A number of brokerages have recently weighed in on PLD. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating and set a $111.00 price objective for the company. in a research note on Thursday, October 8th. Royal Bank of Canada lifted their price objective on Prologis from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Wells Fargo & Company lifted their price objective on Prologis from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Citigroup lifted their price objective on Prologis from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley lifted their price objective on Prologis from $91.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $106.67.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high growth markets. As of March 31, 2020, 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 965 million square feet (90 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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