Rhumbline Advisers grew its stake in Prologis, Inc. (NYSE:PLD) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,015,848 shares of the real estate investment trust’s stock after buying an additional 4,589 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Prologis worth $64,466,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of PLD. Fox Run Management L.L.C. purchased a new stake in Prologis in the second quarter worth about $416,000. Creative Planning grew its position in shares of Prologis by 3.4% during the second quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 69 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Prologis by 1,002.2% during the second quarter. Meeder Asset Management Inc. now owns 14,857 shares of the real estate investment trust’s stock worth $871,000 after purchasing an additional 13,509 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of Prologis during the second quarter worth about $255,000. Finally, Exane Derivatives purchased a new stake in shares of Prologis during the second quarter worth about $2,368,000. Institutional investors and hedge funds own 95.54% of the company’s stock.
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PLD has been the subject of several research analyst reports. BidaskClub cut Prologis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Barclays PLC reiterated an “overweight” rating and set a $61.00 target price (up previously from $59.00) on shares of Prologis in a research report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $66.00 target price (up previously from $59.00) on shares of Prologis in a research report on Thursday, August 24th. KeyCorp reiterated a “buy” rating and set a $65.00 target price on shares of Prologis in a research report on Sunday, August 27th. Finally, Wells Fargo & Company set a $65.00 target price on Prologis and gave the stock a “hold” rating in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $65.50.
Prologis, Inc. (PLD) traded up $0.85 during midday trading on Tuesday, reaching $67.07. The company’s stock had a trading volume of 1,613,600 shares, compared to its average volume of 2,450,364. The stock has a market cap of $35,234.47, a PE ratio of 23.91, a PEG ratio of 4.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.80 and a quick ratio of 0.80. Prologis, Inc. has a fifty-two week low of $45.93 and a fifty-two week high of $67.22.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $531.18 million during the quarter, compared to analysts’ expectations of $573.68 million. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. equities analysts predict that Prologis, Inc. will post 2.8 EPS for the current fiscal year.
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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