The Manufacturers Life Insurance Company trimmed its position in shares of Prologis Inc (NYSE:PLD) by 8.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 786,337 shares of the real estate investment trust’s stock after selling 72,504 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Prologis were worth $50,727,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Prologis by 7.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,289 shares of the real estate investment trust’s stock worth $545,000 after buying an additional 626 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Prologis by 5.2% during the 2nd quarter. Bank of Nova Scotia now owns 12,854 shares of the real estate investment trust’s stock worth $754,000 after buying an additional 630 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Prologis by 8.6% during the 3rd quarter. Advisor Group Inc. now owns 10,258 shares of the real estate investment trust’s stock worth $652,000 after buying an additional 815 shares during the last quarter. Advisor Partners LLC increased its holdings in shares of Prologis by 10.9% during the 3rd quarter. Advisor Partners LLC now owns 8,325 shares of the real estate investment trust’s stock worth $528,000 after buying an additional 819 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC increased its holdings in shares of Prologis by 11.9% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 7,922 shares of the real estate investment trust’s stock worth $503,000 after buying an additional 843 shares during the last quarter. Institutional investors and hedge funds own 93.45% of the company’s stock.
Prologis Inc (PLD) opened at $61.98 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $33,038.69, a PE ratio of 20.25, a price-to-earnings-growth ratio of 4.66 and a beta of 0.83. Prologis Inc has a 12-month low of $48.80 and a 12-month high of $67.53.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $550.65 million during the quarter, compared to analysts’ expectations of $533.54 million. Prologis had a net margin of 63.11% and a return on equity of 9.12%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 EPS. equities research analysts predict that Prologis Inc will post 2.9 earnings per share for the current year.
A number of research firms have recently commented on PLD. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. JPMorgan Chase & Co. downgraded Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 price objective for the company. in a report on Friday, December 15th. Jefferies Group restated a “neutral” rating on shares of Prologis in a report on Wednesday, January 24th. Robert W. Baird upped their price objective on Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, Bank of America set a $72.00 price target on shares of Prologis and gave the stock a “buy” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Prologis has a consensus rating of “Buy” and a consensus price target of $67.56.
In other Prologis news, insider Lori A. Palazzolo sold 4,900 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $65.89, for a total value of $322,861.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward S. Nekritz sold 15,752 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $64.51, for a total transaction of $1,016,161.52. Following the completion of the transaction, the insider now directly owns 146,414 shares of the company’s stock, valued at $9,445,167.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,872 shares of company stock valued at $6,843,648. 1.31% of the stock is currently owned by corporate insiders.
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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