Whittier Trust Co. Raises Stock Holdings in Prologis Inc (NYSE:PLD)

Whittier Trust Co. increased its position in Prologis Inc (NYSE:PLD) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,483 shares of the real estate investment trust’s stock after purchasing an additional 148 shares during the period. Whittier Trust Co.’s holdings in Prologis were worth $4,844,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PLD. Principal Financial Group Inc. grew its stake in Prologis by 8.1% in the first quarter. Principal Financial Group Inc. now owns 13,569,700 shares of the real estate investment trust’s stock worth $976,340,000 after purchasing an additional 1,021,517 shares during the period. FMR LLC grew its stake in Prologis by 3.9% in the first quarter. FMR LLC now owns 20,743,807 shares of the real estate investment trust’s stock worth $1,492,516,000 after purchasing an additional 769,477 shares during the period. Geode Capital Management LLC grew its stake in Prologis by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 9,243,695 shares of the real estate investment trust’s stock worth $541,949,000 after purchasing an additional 636,563 shares during the period. Swedbank grew its stake in Prologis by 30.4% in the first quarter. Swedbank now owns 2,251,490 shares of the real estate investment trust’s stock worth $161,995,000 after purchasing an additional 524,445 shares during the period. Finally, Resolution Capital Ltd grew its stake in Prologis by 10.2% in the first quarter. Resolution Capital Ltd now owns 5,650,232 shares of the real estate investment trust’s stock worth $406,534,000 after purchasing an additional 522,235 shares during the period. 95.25% of the stock is currently owned by institutional investors.

Prologis stock traded down $0.27 during mid-day trading on Friday, hitting $80.51. The company had a trading volume of 1,773,832 shares, compared to its average volume of 2,104,900. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $81.20. Prologis Inc has a 12 month low of $55.21 and a 12 month high of $83.99. The company has a market capitalization of $50.88 billion, a P/E ratio of 26.57, a PEG ratio of 4.34 and a beta of 1.03.

Prologis (NYSE:PLD) last released its earnings results on Monday, July 15th. The real estate investment trust reported $0.60 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $700.69 million during the quarter, compared to the consensus estimate of $704.19 million. During the same period last year, the firm posted $0.71 earnings per share. The company’s revenue was up 28.6% compared to the same quarter last year. Equities research analysts predict that Prologis Inc will post 3.28 EPS for the current fiscal year.

In other Prologis news, CFO Thomas S. Olinger sold 13,051 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $82.25, for a total value of $1,073,444.75. Following the completion of the sale, the chief financial officer now owns 20,667 shares in the company, valued at $1,699,860.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eugene F. Reilly sold 12,500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $81.72, for a total value of $1,021,500.00. Following the completion of the sale, the insider now owns 10,685 shares of the company’s stock, valued at approximately $873,178.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,551 shares of company stock valued at $2,803,425. Company insiders own 1.10% of the company’s stock.

Several equities research analysts recently weighed in on PLD shares. Goldman Sachs Group started coverage on Prologis in a research note on Wednesday, May 15th. They issued a “conviction-buy” rating on the stock. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 target price on shares of Prologis in a report on Wednesday, July 17th. Citigroup set a $86.00 target price on Prologis and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Deutsche Bank boosted their target price on Prologis from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. 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 presently has an average rating of “Buy” and a consensus target price of $76.58.

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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