Prologis Inc (NYSE:PLD) Shares Sold by Twin Capital Management Inc.
Twin Capital Management Inc. reduced its holdings in Prologis Inc (NYSE:PLD) by 24.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 109,480 shares of the real estate investment trust’s stock after selling 35,820 shares during the quarter. Twin Capital Management Inc.’s holdings in Prologis were worth $8,769,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Stephens Inc. AR acquired a new stake in Prologis during the second quarter worth about $4,440,000. DekaBank Deutsche Girozentrale increased its stake in Prologis by 12.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 597,413 shares of the real estate investment trust’s stock worth $47,581,000 after acquiring an additional 66,635 shares during the last quarter. Coastal Investment Advisors Inc. increased its stake in Prologis by 1,772.2% during the second quarter. Coastal Investment Advisors Inc. now owns 674 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 638 shares during the last quarter. Keybank National Association OH increased its stake in 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 worth $17,300,000 after acquiring an additional 11,293 shares during the last quarter. Finally, Charter Trust Co. purchased a new stake in shares of Prologis in the second quarter worth about $888,000. Hedge funds and other institutional investors own 95.35% of the company’s stock.
Several equities research analysts have recently weighed in on PLD shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 target price on shares of Prologis in a research report on Wednesday, July 17th. KeyCorp upped their target price on Prologis from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Citigroup set a $86.00 target price on Prologis and gave the stock a “buy” rating in a research report on Thursday, June 6th. Morgan Stanley upped their target price on Prologis from $75.00 to $78.50 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Finally, Deutsche Bank upped their target price on Prologis from $74.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $78.18.
Shares of NYSE PLD traded up $0.73 on Thursday, hitting $80.99. The company had a trading volume of 87,375 shares, compared to its average volume of 2,189,428. Prologis Inc has a 12-month low of $55.21 and a 12-month high of $83.99. The company has a 50 day moving average price of $81.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market cap of $51.56 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 4.40 and a beta of 1.03.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Monday, July 15th. The real estate investment trust reported $0.60 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 analysts’ expectations of $704.19 million. Prologis had a net margin of 55.04% and a return on equity of 6.55%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 EPS. Equities 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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