Bp Plc boosted its stake in Prologis Inc (NYSE:PLD) by 11.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,000 shares of the real estate investment trust’s stock after buying an additional 7,000 shares during the quarter. Bp Plc’s holdings in Prologis were worth $3,935,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. Clean Yield Group purchased a new stake in Prologis during the 4th quarter worth about $31,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Prologis by 134.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 300 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new stake in Prologis during the 4th quarter worth about $35,000. CNB Bank purchased a new stake in Prologis during the 4th quarter worth about $50,000. Finally, Gradient Investments LLC lifted its holdings in Prologis by 43.8% during the 4th quarter. Gradient Investments LLC now owns 965 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 294 shares in the last quarter. 95.80% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the company. Wells Fargo & Co set a $65.00 price target on Prologis and gave the company a “market perform” rating in a report on Wednesday, January 16th. They noted that the move was a valuation call. Deutsche Bank raised Prologis from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $72.00 in a report on Tuesday, December 18th. ValuEngine raised Prologis from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Prologis has an average rating of “Buy” and a consensus target price of $71.92.
In related news, CEO Eugene F. Reilly sold 19,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 17,685 shares in the company, valued at approximately $1,256,872.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William D. Zollars sold 1,610 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $61.53, for a total value of $99,063.30. Following the transaction, the director now owns 9,880 shares in the company, valued at $607,916.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,489 shares of company stock worth $5,702,776. 1.32% of the stock is owned by corporate insiders.
PLD opened at $70.82 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.32 and a current ratio of 0.23. Prologis Inc has a 1 year low of $55.21 and a 1 year high of $71.29. The company has a market cap of $44.44 billion, a P/E ratio of 23.37, a P/E/G ratio of 4.33 and a beta of 1.03.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, January 22nd. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. Prologis had a return on equity of 7.45% and a net margin of 58.81%. The business had revenue of $679.20 million for the quarter, compared to analyst estimates of $661.64 million. During the same period last year, the company earned $0.55 EPS. Prologis’s revenue for the quarter was up 23.3% compared to the same quarter last year. Research analysts forecast that Prologis Inc will post 3.16 earnings per share for the current fiscal year.
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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