Prologis, Inc. (NYSE:PLD) Shares Sold by Forward Management LLC
Forward Management LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,479 shares of the real estate investment trust’s stock after selling 244 shares during the period. Forward Management LLC’s holdings in Prologis were worth $673,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Prologis by 2.5% in the first quarter. Vanguard Group Inc. now owns 76,655,768 shares of the real estate investment trust’s stock valued at $3,976,902,000 after buying an additional 1,873,351 shares in the last quarter. BlackRock Inc. raised its stake in shares of Prologis by 2,123.5% in the first quarter. BlackRock Inc. now owns 50,855,716 shares of the real estate investment trust’s stock valued at $2,638,393,000 after buying an additional 48,568,495 shares in the last quarter. State Street Corp raised its stake in shares of Prologis by 0.6% in the first quarter. State Street Corp now owns 31,172,110 shares of the real estate investment trust’s stock valued at $1,617,220,000 after buying an additional 177,743 shares in the last quarter. FMR LLC raised its stake in shares of Prologis by 9.4% in the first quarter. FMR LLC now owns 24,650,787 shares of the real estate investment trust’s stock valued at $1,278,883,000 after buying an additional 2,127,092 shares in the last quarter. Finally, APG Asset Management US Inc. raised its stake in shares of Prologis by 0.7% in the first quarter. APG Asset Management US Inc. now owns 17,260,069 shares of the real estate investment trust’s stock valued at $895,452,000 after buying an additional 117,972 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.
Prologis, Inc. (NYSE PLD) opened at 59.94 on Friday. The firm has a market capitalization of $31.88 billion, a P/E ratio of 26.90 and a beta of 0.94. The stock’s 50 day moving average price is $59.43 and its 200 day moving average price is $54.60. Prologis, Inc. has a 12 month low of $45.93 and a 12 month high of $61.81.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The firm had revenue of $766.18 million during the quarter, compared to analyst estimates of $576 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, analysts forecast that Prologis, Inc. will post ($0.27) earnings per share for the current year.
Several analysts recently weighed in on PLD shares. BidaskClub lowered Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC reissued a “hold” rating and issued a $60.00 price objective (up from $54.00) on shares of Prologis in a report on Sunday, June 25th. Barclays PLC reissued an “overweight” rating and issued a $61.00 price objective (up from $59.00) on shares of Prologis in a report on Monday, July 24th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Wednesday, June 7th. Finally, Evercore ISI boosted their price objective on Prologis from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, April 19th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.60.
In related news, insider Edward S. Nekritz sold 25,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $55.31, for a total value of $1,382,750.00. Following the completion of the transaction, the insider now owns 199,950 shares of the company’s stock, valued at $11,059,234.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl B. Webb sold 20,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the completion of the transaction, the director now directly owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The disclosure for this sale can be found here. Insiders sold 483,807 shares of company stock valued at $27,400,851 in the last three months. Company insiders own 1.31% of the company’s stock.
Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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