Prologis Inc (PLD) Stake Increased by First Trust Advisors LP
First Trust Advisors LP grew its stake in shares of Prologis Inc (NYSE:PLD) by 40.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 242,390 shares of the real estate investment trust’s stock after acquiring an additional 70,176 shares during the quarter. First Trust Advisors LP’s holdings in Prologis were worth $16,432,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in PLD. BlackRock Inc. lifted its position in shares of Prologis by 4.9% during the 2nd quarter. BlackRock Inc. now owns 57,370,073 shares of the real estate investment trust’s stock valued at $3,768,639,000 after acquiring an additional 2,674,518 shares during the period. Millennium Management LLC lifted its position in shares of Prologis by 318.1% during the 2nd quarter. Millennium Management LLC now owns 2,369,117 shares of the real estate investment trust’s stock valued at $155,627,000 after acquiring an additional 1,802,477 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Prologis by 3,317.1% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,619,596 shares of the real estate investment trust’s stock valued at $106,391,000 after acquiring an additional 1,572,199 shares during the period. First Republic Investment Management Inc. bought a new stake in shares of Prologis during the 2nd quarter valued at $67,530,000. Finally, Long Pond Capital LP bought a new stake in shares of Prologis during the 2nd quarter valued at $65,013,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.
Shares of PLD stock opened at $67.57 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.44. Prologis Inc has a twelve month low of $58.28 and a twelve month high of $68.20. The firm has a market cap of $41.49 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 4.34 and a beta of 0.71.
A number of analysts have recently weighed in on the company. BMO Capital Markets reiterated a “buy” rating and set a $70.00 target price on shares of Prologis in a research report on Tuesday, October 16th. Barclays upped their target price on 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 Prologis from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. BTIG Research set a $73.00 target price on Prologis and gave the company a “buy” rating in a research report on Thursday, August 23rd. Finally, ValuEngine downgraded Prologis from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Prologis currently has a consensus rating of “Buy” and a consensus target price of $71.93.
In other Prologis news, CEO Eugene F. Reilly sold 15,000 shares of the stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $67.20, for a total value of $1,008,000.00. Following the completion of the transaction, the chief executive officer now directly owns 36,685 shares in the company, valued at $2,465,232. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Irving F. Lyons III sold 4,808 shares of the stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $67.45, for a total value of $324,299.60. Following the completion of the transaction, the director now owns 9,863 shares of the company’s stock, valued at $665,259.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,907 shares of company stock valued at $2,556,878. 1.31% of the stock is owned by corporate insiders.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 685 million square feet (64 million square meters) in 19 countries.
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