Bank of New York Mellon Corp lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,107,980 shares of the real estate investment trust’s stock after purchasing an additional 146,077 shares during the quarter. Bank of New York Mellon Corp owned 2.09% of Prologis worth $704,913,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased 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. increased 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. increased 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. Principal Financial Group Inc. increased 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. Finally, Cbre Clarion Securities LLC increased its holdings in shares of Prologis by 8.7% during the second quarter. Cbre Clarion Securities LLC now owns 8,902,292 shares of the real estate investment trust’s stock worth $522,030,000 after purchasing an additional 709,311 shares during the period. 95.54% of the stock is currently owned by institutional investors.
Prologis, Inc. (NYSE:PLD) traded up $0.85 during midday trading on Tuesday, hitting $67.07. 1,613,600 shares of the company’s stock were exchanged, compared to its average volume of 2,450,364. The company has a market capitalization of $35,234.47, a PE ratio of 23.91, a PEG ratio of 4.44 and a beta of 0.92. Prologis, Inc. has a 12-month low of $45.93 and a 12-month high of $67.22. 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 earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $531.18 million for the quarter, compared to analysts’ expectations of $573.68 million. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. analysts expect that Prologis, Inc. will post 2.8 EPS for the current year.
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PLD has been the topic of several recent research reports. KeyCorp reaffirmed a “buy” rating and set a $65.00 target price on shares of Prologis in a report on Sunday, August 27th. BidaskClub raised shares of Prologis from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research cut shares of Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. SunTrust Banks, Inc. raised shares of Prologis from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, September 5th. Finally, Bank of America Corporation set a $72.00 target price on shares of Prologis and gave the stock a “buy” rating in a report on Wednesday, October 25th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.50.
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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