Prologis Inc (NYSE:PLD) is Westpac Banking Corp’s 10th Largest Position
Westpac Banking Corp trimmed its stake in Prologis Inc (NYSE:PLD) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 772,305 shares of the real estate investment trust’s stock after selling 69,177 shares during the period. Prologis comprises 0.9% of Westpac Banking Corp’s holdings, making the stock its 10th biggest holding. Westpac Banking Corp owned about 0.12% of Prologis worth $61,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in PLD. Berman Capital Advisors LLC raised its holdings in shares of Prologis by 105.3% in the 1st quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 199 shares in the last quarter. Thor Advisors LLC bought a new stake in shares of Prologis in the 1st quarter valued at about $37,000. Hexavest Inc. bought a new stake in shares of Prologis in the 2nd quarter valued at about $42,000. Rational Advisors LLC raised its holdings in shares of Prologis by 61.8% in the 1st quarter. Rational Advisors LLC now owns 618 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 236 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Prologis in the 1st quarter valued at about $57,000. 95.35% of the stock is owned by institutional investors.
PLD has been the subject of several recent research reports. SunTrust Banks boosted their price target on shares of Prologis from $81.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets reiterated a “buy” rating and set a $85.00 price objective on shares of Prologis in a research note on Wednesday, July 17th. Zacks Investment Research lowered shares of Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Morgan Stanley boosted their price objective on shares of Prologis from $75.00 to $78.50 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Finally, Deutsche Bank boosted their price objective on shares of Prologis from $74.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Four research 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’s stock. The stock has an average rating of “Buy” and an average price target of $78.04.
Shares of NYSE PLD traded up $0.18 during trading hours on Tuesday, hitting $81.87. 116,238 shares of the stock were exchanged, compared to its average volume of 2,266,201. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $51.65 billion, a P/E ratio of 26.99, a PEG ratio of 4.41 and a beta of 1.03. The firm’s fifty day simple moving average is $81.20. Prologis Inc has a 12 month low of $55.21 and a 12 month high of $83.99.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Monday, July 15th. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.16). The firm had revenue of $700.69 million for the quarter, compared to the consensus estimate of $704.19 million. Prologis had a return on equity of 6.55% and a net margin of 55.04%. The company’s revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. Research analysts predict that Prologis Inc will post 3.28 EPS for the current year.
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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