Janney Montgomery Scott LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 164,169 shares of the real estate investment trust’s stock after buying an additional 5,397 shares during the period. Janney Montgomery Scott LLC’s holdings in Prologis were worth $9,627,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of PLD. Creative Planning increased its position in Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 234 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in Prologis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 14 shares during the last quarter. IFP Advisors Inc increased its position in Prologis by 10.7% in the first quarter. IFP Advisors Inc now owns 2,249 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 218 shares during the last quarter. Independent Portfolio Consultants Inc. increased its position in Prologis by 82.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 1,225 shares during the last quarter. Finally, Solaris Asset Management LLC increased its position in Prologis by 1.8% in the first quarter. Solaris Asset Management LLC now owns 2,825 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 50 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.
Prologis, Inc. (PLD) traded down 0.38% during midday trading on Friday, hitting $59.71. 1,746,987 shares of the company were exchanged. The stock has a market capitalization of $31.76 billion, a PE ratio of 26.80 and a beta of 0.94. The firm’s 50-day moving average price is $59.49 and its 200-day moving average price is $54.65. Prologis, Inc. has a one year low of $45.93 and a one year high of $61.81.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. The business had revenue of $766.18 million for the quarter, compared to analysts’ expectations of $576 million. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. Equities research analysts anticipate that Prologis, Inc. will post ($0.27) earnings per share for the current year.
Several brokerages have recently weighed in on PLD. Evercore ISI lifted their target price on shares of Prologis from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, April 19th. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Monday, May 22nd. Citigroup Inc. lifted their target price on shares of Prologis from $50.00 to $56.00 and gave the company a “neutral” rating in a research report on Tuesday, April 25th. Barclays PLC restated an “overweight” rating and issued a $61.00 price target (up from $59.00) on shares of Prologis in a research report on Monday, July 24th. Finally, KeyCorp boosted their price target on shares of Prologis from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Prologis currently 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 dated 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 transaction, the insider now directly 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 the SEC website. Also, CEO Hamid R. Moghadam sold 271,788 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $56.04, for a total value of $15,230,999.52. Following the completion of the transaction, the chief executive officer now directly owns 36,997 shares in the company, valued at $2,073,311.88. The disclosure for this sale can be found here. Insiders sold 483,807 shares of company stock worth $27,400,851 over the last three months. Insiders own 1.31% of the company’s stock.
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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