Klingenstein Fields & Co. LLC Has $11.53 Million Position in Prologis Inc (PLD)

Klingenstein Fields & Co. LLC lifted its stake in shares of Prologis Inc (NYSE:PLD) by 24.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 196,298 shares of the real estate investment trust’s stock after purchasing an additional 38,646 shares during the quarter. Klingenstein Fields & Co. LLC’s holdings in Prologis were worth $11,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PLD. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Prologis during the second quarter worth about $221,000. Glenmede Trust Co. NA raised its holdings in Prologis by 45.4% in the second quarter. Glenmede Trust Co. NA now owns 60,343 shares of the real estate investment trust’s stock worth $3,964,000 after purchasing an additional 18,841 shares in the last quarter. Global X Management Co LLC lifted its position in shares of Prologis by 63.4% during the 2nd quarter. Global X Management Co LLC now owns 12,806 shares of the real estate investment trust’s stock valued at $841,000 after buying an additional 4,969 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Prologis by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,760,288 shares of the real estate investment trust’s stock valued at $378,393,000 after buying an additional 318,616 shares during the period. Finally, United Services Automobile Association grew its holdings in Prologis by 44.8% during the second quarter. United Services Automobile Association now owns 279,761 shares of the real estate investment trust’s stock worth $18,378,000 after acquiring an additional 86,546 shares during the period. Hedge funds and other institutional investors own 95.80% of the company’s stock.

In other Prologis news, insider Edward S. Nekritz sold 32,499 shares of Prologis stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $68.32, for a total transaction of $2,220,331.68. Following the sale, the insider now owns 91,158 shares of the company’s stock, valued at approximately $6,227,914.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eugene F. Reilly sold 19,000 shares of Prologis stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $71.07, for a total transaction of $1,350,330.00. Following the completion of the transaction, the chief executive officer now directly owns 17,685 shares in the company, valued at $1,256,872.95. The disclosure for this sale can be found here. Insiders have sold 82,489 shares of company stock worth $5,702,776 in the last ninety days. 1.32% of the stock is currently owned by corporate insiders.

PLD has been the topic of several research reports. Deutsche Bank raised Prologis from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $72.00 in a report on Tuesday, December 18th. ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Wells Fargo & Co set a $65.00 target price on shares of Prologis and gave the company a “market perform” rating in a research note on Wednesday, January 16th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $71.92.

NYSE:PLD opened at $70.82 on Thursday. The company has a market cap of $44.44 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 4.33 and a beta of 1.03. 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 52 week low of $55.21 and a 52 week high of $71.29.

Prologis (NYSE:PLD) last announced its earnings results on Tuesday, January 22nd. The real estate investment trust reported $0.80 earnings per share for the quarter, beating 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 firm had revenue of $679.20 million for the quarter, compared to the consensus estimate of $661.64 million. During the same quarter in the previous year, the business earned $0.55 EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, research analysts forecast that Prologis Inc will post 3.16 earnings per share for the current fiscal year.

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About Prologis

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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