TradeLink Capital LLC bought a new position in shares of Prologis Inc (NYSE:PLD) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,500 shares of the real estate investment trust’s stock, valued at approximately $296,000. Prologis accounts for 1.4% of TradeLink Capital LLC’s portfolio, making the stock its 18th largest position.
Several other hedge funds have also recently bought and sold shares of PLD. Covington Investment Advisors Inc. purchased a new stake in shares of Prologis in the 1st quarter worth approximately $24,275,000. McKinley Carter Wealth Services Inc. purchased a new stake in shares of Prologis in the 1st quarter worth approximately $106,000. Signaturefd LLC purchased a new stake in shares of Prologis in the 1st quarter worth approximately $142,000. Smithfield Trust Co. grew its stake in shares of Prologis by 85.5% in the 2nd quarter. Smithfield Trust Co. now owns 2,319 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 1,069 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Prologis by 50.7% in the 1st quarter. IFP Advisors Inc now owns 2,809 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 945 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.
Several research firms recently weighed in on PLD. Barclays upped their price target on Prologis from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, August 2nd. ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. SunTrust Banks set a $70.00 price target on Prologis and gave the stock a “buy” rating in a research note on Tuesday, August 7th. BMO Capital Markets restated a “buy” rating and issued a $68.00 price target on shares of Prologis in a research note on Tuesday, April 17th. Finally, Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $70.33.
Shares of PLD opened at $64.57 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.51. Prologis Inc has a 12 month low of $58.28 and a 12 month high of $67.53. The firm has a market cap of $34.86 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 4.64 and a beta of 0.80.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. Prologis had a return on equity of 10.11% and a net margin of 74.17%. The business had revenue of $621.00 million for the quarter, compared to the consensus estimate of $557.43 million. During the same period last year, the business posted $0.84 EPS. The company’s revenue was down 18.9% compared to the same quarter last year. equities research analysts expect that Prologis Inc will post 3.01 earnings per share for the current year.
In other news, insider Michael S. Curless sold 14,568 shares of the stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $66.07, for a total transaction of $962,507.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William D. Zollars sold 8,020 shares of the stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $62.45, for a total value of $500,849.00. Following the transaction, the director now directly owns 11,490 shares in the company, valued at $717,550.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,654 shares of company stock worth $3,215,404. Company insiders own 1.31% of the company’s stock.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 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 683 million square feet (63 million square meters) in 19 countries.
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