Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Prologis Inc (NYSE:PLD) by 13.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,402 shares of the real estate investment trust’s stock after purchasing an additional 20,767 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Prologis were worth $11,891,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc raised its position in shares of Prologis by 5.2% during the 2nd quarter. CIBC Asset Management Inc now owns 54,077 shares of the real estate investment trust’s stock worth $3,552,000 after purchasing an additional 2,690 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Prologis by 17.4% during the 3rd quarter. Retirement Systems of Alabama now owns 626,508 shares of the real estate investment trust’s stock worth $42,471,000 after purchasing an additional 92,821 shares during the last quarter. Cbre Clarion Securities LLC raised its position in shares of Prologis by 2.7% during the 2nd quarter. Cbre Clarion Securities LLC now owns 7,919,441 shares of the real estate investment trust’s stock worth $520,228,000 after purchasing an additional 210,819 shares during the last quarter. Bank of America Corp DE raised its position in shares of Prologis by 7.1% during the 2nd quarter. Bank of America Corp DE now owns 6,028,563 shares of the real estate investment trust’s stock worth $396,017,000 after purchasing an additional 400,104 shares during the last quarter. Finally, KAMES CAPITAL plc acquired a new position in shares of Prologis during the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.
Shares of PLD opened at $67.70 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $42.37 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 4.43 and a beta of 0.71. Prologis Inc has a fifty-two week low of $58.28 and a fifty-two week high of $68.20.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company had revenue of $611.00 million during the quarter, compared to the consensus estimate of $582.23 million. Prologis had a return on equity of 6.65% and a net margin of 51.66%. Prologis’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 EPS. On average, analysts forecast that Prologis Inc will post 3.02 EPS for the current year.
Several research analysts recently issued reports on the company. ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. BMO Capital Markets restated a “buy” rating and set a $70.00 price objective on shares of Prologis in a research report on Tuesday, October 16th. Scotiabank assumed coverage on Prologis in a research report on Tuesday, October 16th. They set a “sector perform” rating for the company. Finally, Barclays restated a “buy” rating and set a $70.00 price objective on shares of Prologis in a research report on Sunday, October 14th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $71.93.
In other Prologis news, Director Irving F. Lyons III sold 4,808 shares of the business’s stock in a transaction on Friday, September 28th. The stock was 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 directly owns 9,863 shares in the company, valued at approximately $665,259.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eugene F. Reilly sold 15,000 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were 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 owns 36,685 shares of the company’s stock, valued at $2,465,232. The disclosure for this sale can be found here. Insiders sold a total of 52,907 shares of company stock valued at $3,565,328 over the last quarter. 1.32% of the stock is currently owned by insiders.
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Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 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 771 million square feet (72 million square meters) in 19 countries.
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