Oregon Public Employees Retirement Fund lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,760 shares of the real estate investment trust’s stock after selling 5,759 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Prologis were worth $6,013,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PLD. Brookfield Asset Management Inc. acquired a new position in Prologis during the 2nd quarter worth approximately $297,628,000. Principal Financial Group Inc. raised its stake in shares of Prologis by 11.2% during the 2nd quarter. Principal Financial Group Inc. now owns 15,747,634 shares of the real estate investment trust’s stock worth $1,469,728,000 after purchasing an additional 1,585,088 shares in the last quarter. APG Asset Management US Inc. raised its stake in shares of Prologis by 4.8% during the 2nd quarter. APG Asset Management US Inc. now owns 26,018,500 shares of the real estate investment trust’s stock worth $2,428,307,000 after purchasing an additional 1,196,000 shares in the last quarter. Menora Mivtachim Holdings LTD. bought a new stake in shares of Prologis during the 3rd quarter worth approximately $90,890,000. Finally, PGGM Investments raised its stake in shares of Prologis by 9.1% during the 3rd quarter. PGGM Investments now owns 8,577,655 shares of the real estate investment trust’s stock worth $863,084,000 after purchasing an additional 718,859 shares in the last quarter. 94.75% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on PLD shares. Jefferies Financial Group upped their price objective on Prologis from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Morgan Stanley increased their price target on Prologis from $91.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. BMO Capital Markets initiated coverage on Prologis in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $111.00 price target on the stock. Royal Bank of Canada increased their price target on Prologis from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Finally, Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating and set a $111.00 price target on the stock. in a research note on Thursday, October 8th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $106.67.
PLD stock opened at $104.89 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $77.54 billion, a price-to-earnings ratio of 46.62, a PEG ratio of 3.60 and a beta of 0.90. The business’s fifty day moving average price is $102.17 and its two-hundred day moving average price is $97.20. Prologis, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $109.11.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.48). The firm had revenue of $984.00 million for the quarter, compared to the consensus estimate of $955.32 million. Prologis had a return on equity of 5.55% and a net margin of 43.27%. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. Research analysts expect that Prologis, Inc. will post 3.7 EPS for the current year.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high growth markets. As of March 31, 2020, 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 965 million square feet (90 million square meters) in 19 countries.
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