Pinnacle Associates Ltd. lowered its holdings in Prologis Inc (NYSE:PLD) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,136 shares of the real estate investment trust’s stock after selling 155 shares during the period. Pinnacle Associates Ltd.’s holdings in Prologis were worth $4,897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. increased its position in shares of Prologis by 4,300.0% in the second quarter. Meeder Asset Management Inc. now owns 660 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 645 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Prologis by 5.9% in the second quarter. Eagle Asset Management Inc. now owns 1,323,515 shares of the real estate investment trust’s stock worth $106,013,000 after acquiring an additional 74,183 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Prologis in the second quarter worth approximately $1,202,000. Jones Financial Companies Lllp increased its position in shares of Prologis by 1,096.6% in the second quarter. Jones Financial Companies Lllp now owns 38,914 shares of the real estate investment trust’s stock worth $3,117,000 after acquiring an additional 35,662 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Prologis by 4.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,674,709 shares of the real estate investment trust’s stock worth $134,144,000 after acquiring an additional 78,454 shares in the last quarter. 95.55% of the stock is currently owned by institutional investors.

Shares of PLD stock traded up $1.28 during trading on Wednesday, hitting $83.73. 28,829 shares of the company were exchanged, compared to its average volume of 2,241,648. 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 $52.43 billion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 4.44 and a beta of 1.03. The business’s 50-day simple moving average is $81.56 and its 200 day simple moving average is $75.98. Prologis Inc has a twelve month low of $55.21 and a twelve month high of $84.09.

Prologis (NYSE:PLD) last posted its earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.16). The business had revenue of $700.69 million during the quarter, compared to analyst estimates of $704.19 million. Prologis had a net margin of 55.04% and a return on equity of 6.55%. Prologis’s revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. On average, equities 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 Prologis stock in a transaction that occurred on 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 sale, the insider now directly owns 10,685 shares in the company, valued at $873,178.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas S. Olinger sold 13,051 shares of Prologis stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total transaction of $1,073,444.75. Following the completion of the sale, the chief financial officer now owns 20,667 shares of the company’s stock, valued at $1,699,860.75. The disclosure for this sale can be found here. Insiders sold 34,551 shares of company stock valued at $2,803,425 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Several research analysts have recently weighed in on PLD shares. Zacks Investment Research downgraded shares of Prologis from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Evercore ISI set a $80.00 target price on shares of Prologis and gave the stock a “hold” rating in a research report on Monday, August 12th. SunTrust Banks raised their price target on shares of Prologis from $81.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. KeyCorp raised their price target on shares of Prologis from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Goldman Sachs Group started coverage on shares of Prologis in a report on Wednesday, May 15th. They set a “conviction-buy” rating for the company. Five 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. Prologis presently has an average rating of “Buy” and an average price target of $78.18.

Prologis Profile

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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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