Whittier Trust Co. of Nevada Inc. Sells 533 Shares of Prologis Inc (NYSE:PLD)

Whittier Trust Co. of Nevada Inc. trimmed its position in shares of Prologis Inc (NYSE:PLD) by 2.9% during the second quarter, HoldingsChannel reports. The firm owned 17,802 shares of the real estate investment trust’s stock after selling 533 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Prologis were worth $1,426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its position in Prologis by 3.9% in the 1st quarter. FMR LLC now owns 20,743,807 shares of the real estate investment trust’s stock valued at $1,492,516,000 after acquiring an additional 769,477 shares in the last quarter. Principal Financial Group Inc. lifted its position in Prologis by 8.1% in the 1st quarter. Principal Financial Group Inc. now owns 13,569,700 shares of the real estate investment trust’s stock valued at $976,340,000 after acquiring an additional 1,021,517 shares in the last quarter. Northern Trust Corp lifted its position in Prologis by 1.2% in the 1st quarter. Northern Trust Corp now owns 10,854,828 shares of the real estate investment trust’s stock valued at $781,005,000 after acquiring an additional 126,440 shares in the last quarter. Geode Capital Management LLC lifted its position in Prologis by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 9,243,695 shares of the real estate investment trust’s stock valued at $541,949,000 after acquiring an additional 636,563 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Prologis by 1.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,050,182 shares of the real estate investment trust’s stock valued at $507,261,000 after acquiring an additional 101,034 shares in the last quarter. 95.25% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on the stock. Deutsche Bank boosted their price objective on shares of Prologis from $74.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley boosted their price objective on shares of Prologis from $75.00 to $78.50 and gave the company an “overweight” rating in a research report on Monday, June 3rd. KeyCorp boosted their price objective on shares of Prologis from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Prologis in a research report on Wednesday, July 17th. Finally, Goldman Sachs Group assumed coverage on shares of Prologis in a research report on Wednesday, May 15th. They issued a “conviction-buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Prologis has an average rating of “Buy” and an average price target of $76.58.

In other Prologis news, Director Philip L. Hawkins sold 9,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total transaction of $708,480.00. Following the sale, the director now directly owns 35,511 shares of the company’s stock, valued at approximately $2,795,425.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eugene F. Reilly sold 12,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the sale, the insider now directly owns 10,685 shares in the company, valued at $873,178.20. The disclosure for this sale can be found here. Insiders have sold a total of 34,551 shares of company stock worth $2,803,425 over the last three months. Insiders own 1.10% of the company’s stock.

NYSE:PLD traded down $0.27 on Friday, hitting $80.51. 1,773,832 shares of the company’s stock were exchanged, compared to its average volume of 2,104,900. The business has a 50-day simple moving average of $81.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.54 and a current ratio of 0.54. Prologis Inc has a 52 week low of $55.21 and a 52 week high of $83.99. The stock has a market capitalization of $50.88 billion, a P/E ratio of 26.57, a P/E/G ratio of 4.34 and a beta of 1.03.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Monday, July 15th. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.16). Prologis had a return on equity of 6.55% and a net margin of 55.04%. The business had revenue of $700.69 million for the quarter, compared to the consensus estimate of $704.19 million. During the same period last year, the firm earned $0.71 earnings per share. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. Research analysts anticipate that Prologis Inc will post 3.28 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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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