Candriam Luxembourg S.C.A. cut its stake in Prologis, Inc. (NYSE:PLD) by 79.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,300 shares of the real estate investment trust’s stock after selling 31,414 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Prologis were worth $527,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Prologis by 0.3% in 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 buying an additional 249,341 shares during the last quarter. BlackRock Inc. increased its stake in Prologis by 1.3% in 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 stake in Prologis by 8.0% in 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 increased its stake in Prologis by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 10,961,903 shares of the real estate investment trust’s stock worth $642,806,000 after purchasing an additional 661,314 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Prologis by 1.7% in 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. Institutional investors own 95.15% of the company’s stock.
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Shares of Prologis, Inc. (NYSE:PLD) opened at $66.44 on Tuesday. Prologis, Inc. has a 12-month low of $46.33 and a 12-month high of $67.25. The firm has a market capitalization of $35,520.00, a PE ratio of 23.93, a P/E/G ratio of 4.45 and a beta of 0.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.80 and a current ratio of 0.80.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The company had revenue of $531.18 million for the quarter, compared to the consensus estimate of $573.68 million. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. equities analysts expect that Prologis, Inc. will post 2.8 EPS for the current year.
A number of analysts have weighed in on PLD shares. BidaskClub lowered Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Barclays PLC reiterated an “overweight” rating and issued a $61.00 target price (up previously from $59.00) on shares of Prologis in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $66.00 target price (up previously from $59.00) on shares of Prologis in a research note on Thursday, August 24th. KeyCorp reiterated a “buy” rating and issued a $65.00 target price on shares of Prologis in a research note on Sunday, August 27th. Finally, Wells Fargo & Company set a $65.00 target price on Prologis and gave the stock a “hold” rating in a research note on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target 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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