Payden & Rygel raised its holdings in shares of Prologis Inc (NYSE:PLD) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,700 shares of the real estate investment trust’s stock after acquiring an additional 3,900 shares during the quarter. Payden & Rygel’s holdings in Prologis were worth $12,067,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in PLD. Centersquare Investment Management LLC purchased a new position in Prologis during the 1st quarter valued at about $370,841,000. Los Angeles Capital Management & Equity Research Inc. grew its stake in Prologis by 3,317.1% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,619,596 shares of the real estate investment trust’s stock valued at $106,391,000 after acquiring an additional 1,572,199 shares in the last quarter. BlackRock Inc. grew its stake in Prologis by 2.4% during the 1st quarter. BlackRock Inc. now owns 54,695,555 shares of the real estate investment trust’s stock valued at $3,445,272,000 after acquiring an additional 1,307,023 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Prologis by 53.0% during the 1st quarter. Nuveen Asset Management LLC now owns 2,329,409 shares of the real estate investment trust’s stock valued at $146,729,000 after acquiring an additional 807,035 shares in the last quarter. Finally, Resolution Capital Ltd grew its stake in Prologis by 22.8% during the 1st quarter. Resolution Capital Ltd now owns 3,485,623 shares of the real estate investment trust’s stock valued at $219,559,000 after acquiring an additional 647,314 shares in the last quarter. 94.49% of the stock is currently owned by institutional investors.
In related news, insider Edward S. Nekritz sold 22,213 shares of the business’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $64.87, for a total value of $1,440,957.31. Following the completion of the sale, the insider now owns 124,201 shares of the company’s stock, valued at approximately $8,056,918.87. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael S. Curless sold 14,568 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $66.07, for a total value of $962,507.76. The disclosure for this sale can be found here. In the last three months, insiders sold 56,416 shares of company stock valued at $3,659,194. 1.32% of the stock is currently owned by company insiders.
Shares of NYSE PLD opened at $67.43 on Friday. The company has a market capitalization of $34.44 billion, a P/E ratio of 24.00, a PEG ratio of 4.59 and a beta of 0.80. Prologis Inc has a 52 week low of $58.28 and a 52 week high of $67.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. The business had revenue of $621.00 million during the quarter, compared to analysts’ expectations of $557.43 million. Prologis had a return on equity of 10.11% and a net margin of 74.17%. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. equities analysts forecast that Prologis Inc will post 3.01 earnings per share for the current year.
Several equities analysts have weighed in on PLD shares. ValuEngine cut Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Royal Bank of Canada set a $71.00 target price on Prologis and gave the company a “buy” rating in a research note on Wednesday, April 25th. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Barclays lifted their target price on Prologis from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, August 2nd. Finally, SunTrust Banks set a $70.00 price target on Prologis and gave the company a “buy” rating in a research note on Tuesday, August 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $70.33.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 685 million square feet (64 million square meters) in 19 countries.
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