Prologis Inc (PLD) Holdings Reduced by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL trimmed its position in shares of Prologis Inc (NYSE:PLD) by 13.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 692,567 shares of the real estate investment trust’s stock after selling 111,300 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Prologis were worth $40,668,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Clean Yield Group purchased a new stake in shares of Prologis during the fourth quarter valued at $31,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Prologis by 134.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 300 shares during the period. Evolution Wealth Advisors LLC purchased a new stake in shares of Prologis during the fourth quarter valued at $35,000. CNB Bank purchased a new stake in shares of Prologis during the fourth quarter valued at $50,000. Finally, Gradient Investments LLC boosted its stake in shares of Prologis by 43.8% during the fourth quarter. Gradient Investments LLC now owns 965 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 294 shares during the period. 95.80% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on PLD. Wells Fargo & Co set a $65.00 target price on shares of Prologis and gave the company a “market perform” rating in a research note on Wednesday, January 16th. They noted that the move was a valuation call. ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Deutsche Bank upgraded Prologis from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $72.00 in a report on Tuesday, December 18th. Finally, Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Prologis currently has a consensus rating of “Buy” and a consensus target price of $71.92.
Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, January 22nd. The real estate investment trust reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. The firm had revenue of $679.20 million during the quarter, compared to the consensus estimate of $661.64 million. Prologis had a return on equity of 7.45% and a net margin of 58.81%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. On average, analysts anticipate that Prologis Inc will post 3.16 earnings per share for the current fiscal year.
In other Prologis news, Director William D. Zollars sold 1,610 shares of the business’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $61.53, for a total value of $99,063.30. Following the completion of the transaction, the director now directly owns 9,880 shares in the company, valued at $607,916.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eugene F. Reilly sold 19,000 shares of the business’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $71.07, for a total transaction of $1,350,330.00. Following the completion of the transaction, the chief executive officer now owns 17,685 shares of the company’s stock, valued at $1,256,872.95. The disclosure for this sale can be found here. Insiders sold 112,677 shares of company stock valued at $7,840,992 over the last quarter. 1.32% of the stock is currently owned by corporate insiders.
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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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