Strategic Advisors LLC Makes New Investment in Prologis Inc (NYSE:PLD)

Strategic Advisors LLC purchased a new position in shares of Prologis Inc (NYSE:PLD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,190 shares of the real estate investment trust’s stock, valued at approximately $495,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. AE Wealth Management LLC acquired a new position in shares of Prologis in the 2nd quarter valued at about $331,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Prologis by 0.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 823,000 shares of the real estate investment trust’s stock valued at $65,923,000 after buying an additional 6,000 shares during the period. FDx Advisors Inc. lifted its holdings in shares of Prologis by 38.7% in the 2nd quarter. FDx Advisors Inc. now owns 17,990 shares of the real estate investment trust’s stock valued at $1,441,000 after buying an additional 5,016 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Prologis by 39.7% in the 2nd quarter. Bessemer Group Inc. now owns 3,572 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 1,015 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Prologis by 20.4% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,679 shares of the real estate investment trust’s stock valued at $615,000 after buying an additional 1,300 shares during the period. 95.25% of the stock is owned by institutional investors.

In other Prologis news, CFO Thomas S. Olinger sold 13,051 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $82.25, for a total transaction of $1,073,444.75. Following the completion of the sale, the chief financial officer now directly owns 20,667 shares in the company, valued at approximately $1,699,860.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Philip L. Hawkins sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $78.72, for a total value of $708,480.00. Following the sale, the director now owns 35,511 shares of the company’s stock, valued at $2,795,425.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,551 shares of company stock valued at $2,803,425. 1.10% of the stock is owned by company insiders.

Shares of Prologis stock traded down $0.09 on Friday, hitting $80.69. The company’s stock had a trading volume of 56,330 shares, compared to its average volume of 1,999,456. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.43. Prologis Inc has a 1 year low of $55.21 and a 1 year high of $83.99. The firm’s fifty day moving average is $81.18. The firm has a market cap of $50.85 billion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 4.42 and a beta of 1.03.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.16). Prologis had a net margin of 55.04% and a return on equity of 6.55%. The business had revenue of $700.69 million during the quarter, compared to analysts’ expectations of $704.19 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Prologis’s revenue for the quarter was up 28.6% on a year-over-year basis. As a group, equities analysts forecast that Prologis Inc will post 3.28 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on the company. Deutsche Bank boosted their price objective on Prologis from $74.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Goldman Sachs Group began coverage on Prologis in a research note on Wednesday, May 15th. They issued a “conviction-buy” rating for the company. Citigroup set a $86.00 price target on Prologis and gave the company a “buy” rating in a research note on Thursday, June 6th. Morgan Stanley lifted their price target on Prologis from $75.00 to $78.50 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Finally, BMO Capital Markets restated a “buy” rating and issued a $85.00 price target on shares of Prologis in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.58.

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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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