Mogy Joel R Investment Counsel Inc. increased its holdings in Prologis Inc (NYSE:PLD) by 8.5% in the third quarter, HoldingsChannel reports. The firm owned 53,125 shares of the real estate investment trust’s stock after acquiring an additional 4,175 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Prologis were worth $3,601,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in PLD. Gulf International Bank UK Ltd boosted its position in Prologis by 22.5% during the 3rd quarter. Gulf International Bank UK Ltd now owns 209,255 shares of the real estate investment trust’s stock valued at $14,185,000 after buying an additional 38,437 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in Prologis by 20.3% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 100,719 shares of the real estate investment trust’s stock valued at $6,828,000 after buying an additional 17,000 shares during the period. Virginia Retirement Systems ET AL boosted its position in Prologis by 12.7% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 803,867 shares of the real estate investment trust’s stock valued at $54,494,000 after buying an additional 90,418 shares during the period. WINTON GROUP Ltd boosted its position in Prologis by 1,729.3% during the 3rd quarter. WINTON GROUP Ltd now owns 128,621 shares of the real estate investment trust’s stock valued at $8,719,000 after buying an additional 121,590 shares during the period. Finally, American Century Companies Inc. boosted its position in Prologis by 40.7% during the 3rd quarter. American Century Companies Inc. now owns 1,431,961 shares of the real estate investment trust’s stock valued at $97,073,000 after buying an additional 414,041 shares during the period. 81.38% of the stock is owned by institutional investors.
Shares of NYSE PLD opened at $65.07 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $40.51 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 4.24 and a beta of 0.71. Prologis Inc has a 12 month low of $58.28 and a 12 month high of $68.20.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company had revenue of $611.00 million during the quarter, compared to analyst estimates of $582.23 million. Prologis had a net margin of 51.66% and a return on equity of 6.65%. Prologis’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business earned $1.63 EPS. Equities research analysts expect that Prologis Inc will post 3.02 EPS for the current year.
Several research analysts have commented on the stock. Robert W. Baird restated a “buy” rating and issued a $73.00 price objective on shares of Prologis in a report on Monday, July 23rd. BMO Capital Markets restated a “buy” rating and issued a $70.00 price objective on shares of Prologis in a report on Tuesday, October 16th. Zacks Investment Research lowered shares of Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Scotiabank assumed coverage on shares of Prologis in a report on Tuesday, October 16th. They issued a “sector perform” rating for the company. Finally, ValuEngine upgraded shares of Prologis from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Prologis presently has a consensus rating of “Buy” and an average price target of $71.93.
In related news, insider Edward S. Nekritz sold 18,099 shares of the stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $67.66, for a total value of $1,224,578.34. Following the completion of the transaction, the insider now directly owns 106,102 shares in the company, valued at approximately $7,178,861.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J Michael Losh sold 6,762 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $65.63, for a total transaction of $443,790.06. Following the completion of the transaction, the director now owns 28,101 shares of the company’s stock, valued at $1,844,268.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,669 shares of company stock valued at $3,000,668. 1.32% of the stock is owned by company insiders.
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Prologis Company Profile
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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