Manning & Napier Advisors LLC Buys 39,350 Shares of Prologis, Inc. (PLD)

Manning & Napier Advisors LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 23.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 203,655 shares of the real estate investment trust’s stock after purchasing an additional 39,350 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Prologis were worth $12,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Prologis by 0.3% during the second quarter. Vanguard Group Inc. now owns 76,905,109 shares of the real estate investment trust’s stock worth $4,509,716,000 after purchasing an additional 249,341 shares during the period. BlackRock Inc. lifted its holdings in shares of Prologis by 1.3% during the second quarter. BlackRock Inc. now owns 51,529,145 shares of the real estate investment trust’s stock worth $3,021,668,000 after purchasing an additional 673,429 shares during the period. APG Asset Management US Inc. lifted its holdings in shares of Prologis by 8.0% during the third quarter. APG Asset Management US Inc. now owns 17,942,319 shares of the real estate investment trust’s stock worth $1,138,620,000 after purchasing an additional 1,330,850 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Prologis by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 11,107,980 shares of the real estate investment trust’s stock worth $704,913,000 after purchasing an additional 146,077 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Prologis by 1.7% during the third quarter. Principal Financial Group Inc. now owns 10,377,260 shares of the real estate investment trust’s stock worth $658,542,000 after purchasing an additional 171,944 shares during the period. 95.54% of the stock is owned by hedge funds and other institutional investors.

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Several research analysts have issued reports on PLD shares. Citigroup Inc. increased their price objective on Prologis from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. KeyCorp increased their price objective on Prologis from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. BMO Capital Markets started coverage on Prologis in a research report on Monday, September 11th. They issued an “outperform” rating and a $69.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $65.00 price objective on shares of Prologis in a research report on Thursday, September 21st. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $68.00 price objective on shares of Prologis in a research report on Thursday, October 12th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $65.50.

Shares of Prologis, Inc. (NYSE:PLD) traded down $0.75 during mid-day trading on Friday, hitting $66.30. The stock had a trading volume of 1,302,837 shares, compared to its average volume of 2,441,171. Prologis, Inc. has a twelve month low of $46.33 and a twelve month high of $67.25. The stock has a market capitalization of $35,680.00, a PE ratio of 24.26, a P/E/G ratio of 4.50 and a beta of 0.92. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $531.18 million for the quarter, compared to analyst estimates of $573.68 million. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. analysts forecast that Prologis, Inc. will post 2.8 EPS for the current year.

Prologis 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.

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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