Gateway Investment Advisers LLC Sells 1,182 Shares of Prologis, Inc. (PLD)

Gateway Investment Advisers LLC cut its position in Prologis, Inc. (NYSE:PLD) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,704 shares of the real estate investment trust’s stock after selling 1,182 shares during the period. Gateway Investment Advisers LLC’s holdings in Prologis were worth $1,918,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Creative Planning raised its stake in shares of Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 234 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Prologis by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 456,324 shares of the real estate investment trust’s stock worth $23,674,000 after buying an additional 14,610 shares during the last quarter. Foundry Partners LLC raised its stake in shares of Prologis by 45.7% in the first quarter. Foundry Partners LLC now owns 134,100 shares of the real estate investment trust’s stock worth $6,957,000 after buying an additional 42,050 shares during the last quarter. Pensionfund Sabic raised its stake in shares of Prologis by 10.0% in the first quarter. Pensionfund Sabic now owns 33,000 shares of the real estate investment trust’s stock worth $1,712,000 after buying an additional 3,000 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Prologis by 34.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,101,770 shares of the real estate investment trust’s stock worth $58,162,000 after buying an additional 280,839 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Prologis, Inc. (PLD) opened at 61.36 on Friday. Prologis, Inc. has a 12-month low of $45.93 and a 12-month high of $61.81. The company has a market cap of $32.64 billion, a PE ratio of 27.54 and a beta of 0.94. The stock’s 50 day moving average price is $58.87 and its 200 day moving average price is $54.22.

Prologis (NYSE:PLD) last released its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The business had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576 million. During the same quarter last year, the firm posted $0.60 earnings per share. The firm’s revenue was up 27.2% on a year-over-year basis. Equities research analysts anticipate that Prologis, Inc. will post ($0.27) EPS for the current year.

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Several equities analysts have recently issued reports on PLD shares. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Monday, July 31st. BidaskClub upgraded Prologis from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Barclays PLC restated an “overweight” rating and set a $61.00 target price (up from $59.00) on shares of Prologis in a research report on Monday, July 24th. KeyCorp boosted their target price on Prologis from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, Evercore ISI restated an “outperform” rating and set a $64.00 target price (up from $61.00) on shares of Prologis in a research report on Friday, July 21st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Prologis has an average rating of “Buy” and a consensus target price of $59.60.

In other Prologis news, insider Edward S. Nekritz sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $55.31, for a total value of $1,382,750.00. Following the completion of the sale, the insider now owns 199,950 shares of the company’s stock, valued at $11,059,234.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $61.38, for a total value of $1,227,600.00. Following the completion of the sale, the director now directly owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The disclosure for this sale can be found here. Insiders have sold 483,807 shares of company stock valued at $27,400,851 in the last ninety days. 1.31% of the stock is currently owned by insiders.

Prologis Company Profile

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.