Prologis Inc (PLD) Stake Lowered by Robeco Institutional Asset Management B.V.
Robeco Institutional Asset Management B.V. trimmed its position in shares of Prologis Inc (NYSE:PLD) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 446,508 shares of the real estate investment trust’s stock after selling 56,948 shares during the period. Robeco Institutional Asset Management B.V. owned 0.08% of Prologis worth $29,332,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. McKinley Carter Wealth Services Inc. bought a new stake in shares of Prologis during the 1st quarter valued at $106,000. Signaturefd LLC bought a new stake in shares of Prologis during the 1st quarter valued at $142,000. Summit Trail Advisors LLC raised its position in shares of Prologis by 6,714.8% during the 1st quarter. Summit Trail Advisors LLC now owns 144,950 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 142,823 shares during the period. Smithfield Trust Co. raised its position in shares of Prologis by 85.5% during the 2nd quarter. Smithfield Trust Co. now owns 2,319 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 1,069 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Prologis by 50.7% during the 1st quarter. IFP Advisors Inc now owns 2,809 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 945 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.
In other news, Director William D. Zollars sold 8,020 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $62.45, for a total value of $500,849.00. Following the sale, the director now directly owns 11,490 shares in the company, valued at approximately $717,550.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edward S. Nekritz sold 22,213 shares of the business’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $64.87, for a total transaction of $1,440,957.31. Following the completion of the sale, the insider now owns 124,201 shares in the company, valued at $8,056,918.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,654 shares of company stock worth $3,215,404. 1.31% of the stock is currently owned by insiders.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71. The company had revenue of $621.00 million for the quarter, compared to the consensus estimate of $557.43 million. Prologis had a net margin of 74.17% and a return on equity of 10.11%. Prologis’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. equities analysts forecast that Prologis Inc will post 3.01 earnings per share for the current year.
PLD has been the topic of several recent analyst reports. BMO Capital Markets restated a “buy” rating and set a $68.00 price objective on shares of Prologis in a research report on Tuesday, April 17th. Barclays raised their price objective on shares of Prologis from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Robert W. Baird set a $73.00 price objective on shares of Prologis and gave the company a “buy” rating in a research report on Tuesday, April 24th. Finally, ValuEngine upgraded shares of Prologis from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $70.33.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 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 683 million square feet (63 million square meters) in 19 countries.
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