Keybank National Association OH increased its stake in shares of Prologis Inc (NYSE:PLD) by 2.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 220,944 shares of the real estate investment trust’s stock after acquiring an additional 4,967 shares during the period. Keybank National Association OH’s holdings in Prologis were worth $18,829,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Sandy Spring Bank acquired a new position in Prologis during the 3rd quarter worth approximately $33,000. Prestige Wealth Management Group LLC purchased a new stake in Prologis during the 2nd quarter worth approximately $39,000. Hexavest Inc. purchased a new stake in Prologis during the 2nd quarter worth approximately $42,000. HM Payson & Co. purchased a new stake in Prologis during the 2nd quarter worth approximately $43,000. Finally, Meeder Asset Management Inc. increased its holdings in Prologis by 4,300.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 660 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 645 shares during the last quarter. 95.64% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have issued reports on PLD. Stifel Nicolaus set a $95.00 price objective on Prologis and gave the stock a “buy” rating in a report on Tuesday, October 15th. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating in a report on Wednesday. Wells Fargo & Co lifted their price objective on Prologis from $84.00 to $91.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. BMO Capital Markets restated a “buy” rating and set a $95.00 price objective (up from $85.00) on shares of Prologis in a report on Wednesday. Finally, ValuEngine downgraded Prologis from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Prologis presently has an average rating of “Buy” and an average target price of $88.58.
Shares of NYSE PLD traded down $0.24 during trading on Friday, reaching $87.02. The stock had a trading volume of 992,713 shares, compared to its average volume of 3,372,990. Prologis Inc has a one year low of $55.21 and a one year high of $92.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market cap of $54.27 billion, a PE ratio of 28.72, a P/E/G ratio of 4.52 and a beta of 0.99. The firm’s 50 day moving average price is $87.00 and its two-hundred day moving average price is $81.59.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.23. The business had revenue of $712.00 million during the quarter, compared to the consensus estimate of $715.40 million. Prologis had a return on equity of 6.92% and a net margin of 53.87%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. On average, research analysts expect that Prologis Inc will post 3.31 earnings per share 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 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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