Gilbert & Cook Inc. acquired a new position in Prologis, Inc. (NYSE:PLD) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 6,629 shares of the real estate investment trust’s stock, valued at approximately $389,000.
A number of other institutional investors also recently made changes to their positions in PLD. Brookfield Asset Management Inc. bought a new position in shares of Prologis during the first quarter worth approximately $227,403,000. Graybill Bartz & Assoc Ltd. increased its position in shares of Prologis by 2.3% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 49,830 shares of the real estate investment trust’s stock worth $2,585,000 after buying an additional 1,100 shares during the last quarter. Capital Impact Advisors LLC bought a new position in shares of Prologis during the first quarter worth approximately $1,775,000. Sprott Inc. acquired a new stake in Prologis during the first quarter valued at about $306,000. Finally, Ameriprise Financial Inc. boosted its stake in Prologis by 13.4% in the first quarter. Ameriprise Financial Inc. now owns 3,578,338 shares of the real estate investment trust’s stock valued at $185,307,000 after buying an additional 422,806 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.
Prologis, Inc. (NYSE:PLD) traded down 0.38% on Friday, reaching $59.71. The company had a trading volume of 1,746,987 shares. The firm has a 50-day moving average of $59.49 and a 200-day moving average of $54.65. The stock has a market capitalization of $31.76 billion, a P/E ratio of 26.80 and a beta of 0.94. Prologis, Inc. has a 12 month low of $45.93 and a 12 month high of $61.81.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. The business had revenue of $766.18 million for the quarter, compared to analyst estimates of $576 million. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. On average, equities research analysts expect that Prologis, Inc. will post ($0.27) earnings per share for the current fiscal year.
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PLD has been the subject of several recent analyst reports. BidaskClub cut Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reissued a “hold” rating and set a $60.00 target price (up previously from $54.00) on shares of Prologis in a research note on Sunday, June 25th. Barclays PLC reissued an “overweight” rating and set a $61.00 target price (up previously from $59.00) on shares of Prologis in a research note on Monday, July 24th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Wednesday, June 7th. Finally, Evercore ISI raised their target price on Prologis from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $59.60.
In related news, insider Edward S. Nekritz sold 25,000 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $55.31, for a total value of $1,382,750.00. Following the completion of the sale, the insider now directly owns 199,950 shares in the company, valued at approximately $11,059,234.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carl B. Webb sold 20,000 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $61.38, for a total value of $1,227,600.00. Following the completion of the sale, the director now owns 66,078 shares of the company’s stock, valued at $4,055,867.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 483,807 shares of company stock valued at $27,400,851. 1.31% of the stock is owned by insiders.
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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