TD Asset Management Inc. cut its holdings in Prologis Inc (NYSE:PLD) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 189,347 shares of the real estate investment trust’s stock after selling 3,484 shares during the quarter. TD Asset Management Inc.’s holdings in Prologis were worth $15,167,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of PLD. Keybank National Association OH increased its holdings in shares of Prologis by 5.5% during the second quarter. Keybank National Association OH now owns 215,977 shares of the real estate investment trust’s stock valued at $17,300,000 after acquiring an additional 11,293 shares in the last quarter. Charter Trust Co. bought a new stake in Prologis during the second quarter worth $888,000. Sheaff Brock Investment Advisors LLC grew its holdings in Prologis by 6.5% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 6,926 shares of the real estate investment trust’s stock worth $555,000 after buying an additional 421 shares in the last quarter. Geneva Partners LLC grew its holdings in Prologis by 21.7% during the second quarter. Geneva Partners LLC now owns 30,067 shares of the real estate investment trust’s stock worth $2,408,000 after buying an additional 5,365 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its holdings in Prologis by 2.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 8,730 shares of the real estate investment trust’s stock worth $699,000 after buying an additional 210 shares in the last quarter. 95.35% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Goldman Sachs Group assumed coverage on Prologis in a report on Wednesday, May 15th. They set a “conviction-buy” rating for the company. Citigroup set a $86.00 price target on Prologis and gave the stock a “buy” rating in a report on Thursday, June 6th. Deutsche Bank upped their price target on Prologis from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Morgan Stanley upped their price target on Prologis from $75.00 to $78.50 and gave the stock an “overweight” rating in a report on Monday, June 3rd. Finally, Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Prologis presently has a consensus rating of “Buy” and an average target price of $78.18.
Prologis (NYSE:PLD) last announced its quarterly earnings data on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.16). The business had revenue of $700.69 million during the quarter, compared to the consensus estimate of $704.19 million. Prologis had a net margin of 55.04% and a return on equity of 6.55%. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. Equities research analysts forecast that Prologis Inc will post 3.28 earnings per share for the current fiscal year.
In other Prologis news, insider Eugene F. Reilly sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was 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 in the company, valued at approximately $873,178.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas S. Olinger sold 13,051 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were 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 of the company’s stock, valued at approximately $1,699,860.75. The disclosure for this sale can be found here. Insiders sold a total of 34,551 shares of company stock valued at $2,803,425 in the last 90 days. Corporate insiders own 1.10% 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 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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