Rainier Investment Management LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 71.8% during the second quarter, Holdings Channel reports. The firm owned 20,570 shares of the real estate investment trust’s stock after selling 52,470 shares during the period. Rainier Investment Management LLC’s holdings in Prologis were worth $1,206,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in PLD. Guardian Life Insurance Co. of America boosted its stake 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 worth $106,000 after buying an additional 14 shares during the period. Solaris Asset Management LLC raised 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 period. Shine Investment Advisory Services Inc. raised its position in Prologis by 0.6% in the second quarter. Shine Investment Advisory Services Inc. now owns 8,929 shares of the real estate investment trust’s stock valued at $524,000 after buying an additional 52 shares during the period. Creative Planning raised its position in Prologis by 3.4% in the second quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 69 shares during the period. Finally, Quadrant Capital Management LLC raised its position in Prologis by 0.3% in the first quarter. Quadrant Capital Management LLC now owns 22,621 shares of the real estate investment trust’s stock valued at $1,174,000 after buying an additional 75 shares during the period. 95.57% of the stock is currently owned by institutional investors.
Shares of Prologis, Inc. (NYSE PLD) opened at 61.23 on Friday. The company has a 50-day moving average of $59.89 and a 200-day moving average of $55.04. The company has a market cap of $32.57 billion, a PE ratio of 27.48 and a beta of 0.94. Prologis, Inc. has a 1-year low of $45.93 and a 1-year high of $62.87.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The business had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576 million. During the same quarter in the previous year, the company earned $0.60 EPS. The business’s revenue was up 27.2% on a year-over-year basis. Equities analysts forecast that Prologis, Inc. will post ($0.27) EPS for the current year.
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PLD has been the topic of several recent research reports. Evercore ISI restated an “outperform” rating and issued a $64.00 price target (up previously from $61.00) on shares of Prologis in a research report on Friday, July 21st. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Friday, April 21st. Jefferies Group LLC restated a “hold” rating and issued a $60.00 price target (up previously from $54.00) on shares of Prologis in a research report on Sunday, June 25th. Citigroup Inc. lifted their price target on shares of Prologis from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 25th. Finally, Bank of America Corporation upgraded shares of Prologis from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $65.00 in a research report on Friday, June 23rd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $59.60.
In other Prologis news, CEO Hamid R. Moghadam sold 14,067 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $56.00, for a total value of $787,752.00. Following the transaction, the chief executive officer now directly owns 3,267 shares of the company’s stock, valued at approximately $182,952. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the completion of the transaction, the director now directly owns 66,078 shares in the company, valued at $4,055,867.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 458,807 shares of company stock worth $26,018,101. Insiders own 1.31% of the company’s stock.
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.
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