Raymond James Trust N.A. lessened its stake in shares of Prologis Inc (NYSE:PLD) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,946 shares of the real estate investment trust’s stock after selling 736 shares during the quarter. Raymond James Trust N.A.’s holdings in Prologis were worth $1,406,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Clean Yield Group bought a new stake in shares of Prologis during the fourth quarter valued at approximately $31,000. Gradient Investments LLC increased its position in Prologis by 43.8% in the fourth 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 during the last quarter. Cornerstone Advisors Inc. increased its position in Prologis by 14.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,424 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 180 shares during the last quarter. Palo Capital Inc. purchased a new position in Prologis during the third quarter worth $150,000. Finally, Kistler Tiffany Companies LLC purchased a new position in Prologis during the third quarter worth $160,000. 95.80% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director William D. Zollars sold 1,610 shares of the stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $61.53, for a total transaction of $99,063.30. Following the transaction, the director now owns 9,880 shares in the company, valued at approximately $607,916.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Philip L. Hawkins sold 15,000 shares of the stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $68.20, for a total value of $1,023,000.00. Following the completion of the transaction, the director now directly owns 44,511 shares of the company’s stock, valued at $3,035,650.20. The disclosure for this sale can be found here. Insiders have sold a total of 82,489 shares of company stock worth $5,702,776 in the last quarter. Insiders own 1.32% of the company’s stock.
Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, January 22nd. The real estate investment trust reported $0.80 EPS for the quarter, topping the Thomson Reuters’ 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 quarter in the prior year, the firm posted $0.55 EPS. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, analysts forecast that Prologis Inc will post 3.16 earnings per share for the current year.
Several research firms have commented on PLD. ValuEngine raised shares of Prologis from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Wells Fargo & Co set a $65.00 price objective on shares of Prologis and gave the stock a “market perform” rating in a research note on Wednesday, January 16th. They noted that the move was a valuation call. Deutsche Bank raised shares of Prologis from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $72.00 in a research note on Tuesday, December 18th. Finally, Zacks Investment Research lowered shares of Prologis from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Prologis has a consensus rating of “Buy” and an average target price of $71.92.
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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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