Quadrant Capital Group LLC Buys 1,459 Shares of Prologis Inc (NYSE:PLD)

Quadrant Capital Group LLC lifted its stake in Prologis Inc (NYSE:PLD) by 54.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,137 shares of the real estate investment trust’s stock after purchasing an additional 1,459 shares during the quarter. Quadrant Capital Group LLC’s holdings in Prologis were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of PLD. Principal Financial Group Inc. boosted its position in shares of 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 worth $976,340,000 after purchasing an additional 1,021,517 shares in the last quarter. FMR LLC boosted its position in shares of Prologis by 3.9% in the 1st 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 in the last quarter. Geode Capital Management LLC raised its holdings 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 worth $541,949,000 after acquiring an additional 636,563 shares during the last quarter. Swedbank raised its holdings in Prologis by 30.4% in the 1st quarter. Swedbank now owns 2,251,490 shares of the real estate investment trust’s stock worth $161,995,000 after acquiring an additional 524,445 shares during the last quarter. Finally, Resolution Capital Ltd raised its holdings in Prologis by 10.2% in the 1st quarter. Resolution Capital Ltd now owns 5,650,232 shares of the real estate investment trust’s stock worth $406,534,000 after acquiring an additional 522,235 shares during the last quarter. 95.17% of the stock is currently owned by hedge funds and other institutional investors.

PLD has been the subject of a number of research reports. Citigroup set a $86.00 target price on shares of Prologis and gave the company a “buy” rating in a research note on Thursday, June 6th. BMO Capital Markets reiterated a “buy” rating and set a $85.00 target price on shares of Prologis in a research note on Wednesday, July 17th. Goldman Sachs Group initiated coverage on shares of Prologis in a research note on Wednesday, May 15th. They set a “conviction-buy” rating for the company. Zacks Investment Research lowered shares of Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, KeyCorp boosted their target price on shares of Prologis from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Four investment 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. The company presently has a consensus rating of “Buy” and a consensus price target of $76.58.

Shares of NYSE:PLD traded down $1.30 during midday trading on Monday, hitting $79.21. The company had a trading volume of 84,345 shares, compared to its average volume of 2,221,898. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $50.81 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 4.34 and a beta of 1.03. Prologis Inc has a 12-month low of $55.21 and a 12-month high of $83.99. The business has a fifty day simple moving average of $81.20.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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). The company had revenue of $700.69 million during the quarter, compared to analysts’ expectations of $704.19 million. Prologis had a return on equity of 6.55% and a net margin of 55.04%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. On average, equities analysts expect that Prologis Inc will post 3.28 earnings per share for the current year.

In other news, Director Philip L. Hawkins sold 9,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 35,511 shares in the company, valued at approximately $2,795,425.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas S. Olinger sold 13,051 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $1,699,860.75. The disclosure for this sale can be found here. Insiders sold a total of 34,551 shares of company stock valued at $2,803,425 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

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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