Prologis Inc (NYSE:PLD) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in Prologis Inc (NYSE:PLD) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,214 shares of the real estate investment trust’s stock after selling 1,980 shares during the period. Janney Montgomery Scott LLC’s holdings in Prologis were worth $10,861,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PLD. BlackRock Inc. raised its holdings in Prologis by 4.9% in the 2nd quarter. BlackRock Inc. now owns 57,370,073 shares of the real estate investment trust’s stock valued at $3,768,639,000 after acquiring an additional 2,674,518 shares in the last quarter. Cbre Clarion Securities LLC boosted its stake in shares of Prologis by 2.7% in the second quarter. Cbre Clarion Securities LLC now owns 7,919,441 shares of the real estate investment trust’s stock valued at $520,228,000 after buying an additional 210,819 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Prologis by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,900,910 shares of the real estate investment trust’s stock valued at $519,006,000 after buying an additional 90,370 shares during the period. PGGM Investments boosted its stake in shares of Prologis by 15.0% in the third quarter. PGGM Investments now owns 7,136,300 shares of the real estate investment trust’s stock valued at $483,770,000 after buying an additional 933,300 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Prologis by 7.1% in the second quarter. Bank of America Corp DE now owns 6,028,563 shares of the real estate investment trust’s stock valued at $396,017,000 after buying an additional 400,104 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Shares of NYSE:PLD traded up $1.31 during trading on Monday, hitting $68.65. 3,210,080 shares of the company were exchanged, compared to its average volume of 2,936,955. The company has a market capitalization of $42.39 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 4.43 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.32 and a current ratio of 0.32. Prologis Inc has a 1-year low of $58.28 and a 1-year high of $68.66.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the 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 net margin of 51.66% and a return on equity of 6.65%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 earnings per share. On average, equities analysts forecast that Prologis Inc will post 3.02 EPS for the current fiscal year.

Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Prologis from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Bank of America boosted their price objective on shares of Prologis from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, September 10th. SunTrust Banks set a $70.00 price objective on shares of Prologis and gave the company a “buy” rating in a research report on Tuesday, August 7th. ValuEngine upgraded shares of Prologis from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, BTIG Research set a $73.00 price objective on shares of Prologis and gave the company a “buy” rating in a research report on Thursday, August 23rd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Prologis presently has a consensus rating of “Buy” and an average target price of $71.93.

In other Prologis news, Director Irving F. Lyons III sold 4,808 shares of the company’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $67.45, for a total transaction of $324,299.60. Following the sale, the director now owns 9,863 shares of the company’s stock, valued at $665,259.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward S. Nekritz sold 18,099 shares of the company’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $67.66, for a total transaction of $1,224,578.34. Following the sale, the insider now directly owns 106,102 shares in the company, valued at approximately $7,178,861.32. The disclosure for this sale can be found here. Insiders have sold 52,907 shares of company stock worth $3,565,328 in the last ninety days. Insiders own 1.32% of the company’s stock.

WARNING: “Prologis Inc (NYSE:PLD) Shares Sold by Janney Montgomery Scott LLC” was posted by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this piece on another site, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this piece can be viewed at https://www.baseballdailydigest.com/news/2018/12/03/janney-montgomery-scott-llc-trims-stake-in-prologis-inc-pld.html.

Prologis 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.

See Also: Dividend

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply