Comerica Securities Inc. raised its stake in shares of Prologis Inc (NYSE:PLD) by 58.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,659 shares of the real estate investment trust’s stock after buying an additional 2,445 shares during the period. Comerica Securities Inc.’s holdings in Prologis were worth $391,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PLD. Cornerstone Advisors Inc. grew its position in shares of Prologis by 14.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,424 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 180 shares during the last quarter. Gradient Investments LLC grew its position in shares of Prologis by 43.8% in the fourth quarter. Gradient Investments LLC now owns 965 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 294 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Prologis by 134.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 300 shares during the last quarter. ETF Managers Group LLC grew its position in shares of Prologis by 18.8% in the fourth quarter. ETF Managers Group LLC now owns 2,125 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 337 shares during the last quarter. Finally, American Investment Services Inc. grew its position in shares of Prologis by 2.6% in the fourth quarter. American Investment Services Inc. now owns 14,037 shares of the real estate investment trust’s stock valued at $824,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 95.80% of the company’s stock.
In related news, insider Edward S. Nekritz sold 32,499 shares of Prologis stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $68.32, for a total transaction of $2,220,331.68. Following the sale, the insider now directly owns 91,158 shares of the company’s stock, valued at $6,227,914.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eugene F. Reilly sold 19,000 shares of Prologis stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $71.07, for a total value of $1,350,330.00. Following the sale, the chief executive officer now directly owns 17,685 shares in the company, valued at $1,256,872.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,489 shares of company stock worth $5,702,776. 1.32% of the stock is owned by company insiders.
Several equities research analysts have recently issued reports on the company. ValuEngine raised Prologis from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Wells Fargo & Co set a $65.00 price target on Prologis and gave the company a “market perform” rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. Finally, Deutsche Bank raised Prologis from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $72.00 in a research report on Tuesday, December 18th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $71.92.
PLD stock opened at $70.82 on Thursday. Prologis Inc has a twelve month low of $55.21 and a twelve month high of $71.29. The stock has a market cap of $44.44 billion, a P/E ratio of 23.37, a PEG ratio of 4.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.32 and a current ratio of 0.23.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, January 22nd. The real estate investment trust reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Prologis had a return on equity of 7.45% and a net margin of 58.81%. The business had revenue of $679.20 million for the quarter, compared to the consensus estimate of $661.64 million. During the same period last year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, sell-side analysts predict that Prologis Inc will post 3.16 earnings per share for the current fiscal year.
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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