GWM Advisors LLC lowered its position in shares of Prologis Inc (NYSE:PLD) by 5.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 26,066 shares of the real estate investment trust’s stock after selling 1,415 shares during the quarter. GWM Advisors LLC’s holdings in Prologis were worth $2,088,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of PLD. Comerica Securities Inc. lifted its position in Prologis by 58.0% during the 4th quarter. Comerica Securities Inc. now owns 6,659 shares of the real estate investment trust’s stock worth $391,000 after acquiring an additional 2,445 shares during the period. Geode Capital Management LLC lifted its position in Prologis by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 9,243,695 shares of the real estate investment trust’s stock worth $541,949,000 after acquiring an additional 636,563 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Prologis during the 1st quarter worth about $248,000. Carroll Financial Associates Inc. lifted its position in Prologis by 1,623.6% during the 1st quarter. Carroll Financial Associates Inc. now owns 1,534 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 1,445 shares during the period. Finally, Cambridge Trust Co. lifted its position in Prologis by 6.0% during the 1st quarter. Cambridge Trust Co. now owns 295,883 shares of the real estate investment trust’s stock worth $21,289,000 after acquiring an additional 16,678 shares during the period. 95.55% of the stock is owned by institutional investors.
Shares of NYSE PLD traded down $0.25 during trading on Tuesday, reaching $83.61. 30,592 shares of the company traded hands, compared to its average volume of 2,241,648. The firm’s fifty day simple moving average is $81.50 and its 200 day simple moving average is $75.91. The stock has a market cap of $52.00 billion, a P/E ratio of 27.39, a PEG ratio of 4.44 and a beta of 1.03. Prologis Inc has a 12-month low of $55.21 and a 12-month high of $84.08. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.43.
Prologis (NYSE:PLD) last released its quarterly earnings data on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.16). The company had revenue of $700.69 million for the quarter, compared to analysts’ expectations of $704.19 million. Prologis had a net margin of 55.04% and a return on equity of 6.55%. The business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, research analysts expect that Prologis Inc will post 3.28 EPS for the current year.
In related news, CFO Thomas S. Olinger sold 13,051 shares of Prologis stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $82.25, for a total value of $1,073,444.75. Following the completion of the transaction, the chief financial officer now owns 20,667 shares in the company, valued at approximately $1,699,860.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eugene F. Reilly sold 12,500 shares of Prologis stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $81.72, for a total value of $1,021,500.00. Following the completion of the transaction, the insider now owns 10,685 shares of the company’s stock, valued at approximately $873,178.20. The disclosure for this sale can be found here. Insiders have sold a total of 34,551 shares of company stock valued at $2,803,425 in the last quarter. Company insiders own 1.10% of the company’s stock.
PLD has been the subject of a number of research reports. SunTrust Banks lifted their price target on Prologis from $81.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Deutsche Bank lifted their price target on Prologis from $74.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Citigroup set a $86.00 price target on Prologis and gave the stock a “buy” rating in a research report on Thursday, June 6th. Evercore ISI set a $80.00 price target on Prologis and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $78.18.
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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