Sheaff Brock Investment Advisors LLC Purchases 421 Shares of Prologis Inc (NYSE:PLD)

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Sheaff Brock Investment Advisors LLC boosted its position in Prologis Inc (NYSE:PLD) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,926 shares of the real estate investment trust’s stock after purchasing an additional 421 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Prologis were worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Berman Capital Advisors LLC increased its position in shares of Prologis by 105.3% during the first quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 199 shares during the period. Thor Advisors LLC purchased a new position in shares of Prologis during the first quarter worth approximately $37,000. Hexavest Inc. purchased a new position in shares of Prologis during the second quarter worth approximately $42,000. Rational Advisors LLC increased its position in shares of Prologis by 61.8% during the first quarter. Rational Advisors LLC now owns 618 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 236 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Prologis during the first quarter worth approximately $57,000. 95.35% of the stock is owned by institutional investors and hedge funds.

PLD stock traded down $0.58 during trading on Wednesday, hitting $81.24. 32,961 shares of the company’s stock traded hands, compared to its average volume of 2,348,049. The company has a market capitalization of $51.65 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 4.41 and a beta of 1.03. The stock’s fifty day moving average price is $81.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.54 and a quick ratio of 0.54. Prologis Inc has a 1 year low of $55.21 and a 1 year high of $83.99.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.16). The business had revenue of $700.69 million for the quarter, compared to analysts’ expectations of $704.19 million. Prologis had a net margin of 55.04% and a return on equity of 6.55%. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. On average, sell-side analysts anticipate that Prologis Inc will post 3.28 EPS for the current fiscal year.

In related news, CFO Thomas S. Olinger sold 13,051 shares of Prologis stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total transaction of $1,073,444.75. Following the transaction, the chief financial officer now directly owns 20,667 shares of the company’s stock, valued at $1,699,860.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Philip L. Hawkins sold 9,000 shares of Prologis stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total transaction of $708,480.00. Following the transaction, the director now directly owns 35,511 shares in the company, valued at $2,795,425.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,551 shares of company stock worth $2,803,425. 1.10% of the stock is currently owned by corporate insiders.

A number of brokerages have recently commented on PLD. Goldman Sachs Group began coverage on shares of Prologis in a research report on Wednesday, May 15th. They set a “conviction-buy” rating on the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 target price on shares of Prologis in a research report on Wednesday, July 17th. SunTrust Banks raised their target price on shares of Prologis from $81.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday. KeyCorp raised their target price on shares of Prologis from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley raised their target price on shares of Prologis from $75.00 to $78.50 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Prologis presently has an average rating of “Buy” and an average target price of $78.04.

Prologis Profile

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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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