Advisory Services Network LLC Acquires 4,823 Shares of Prologis Inc (PLD)

Advisory Services Network LLC boosted its holdings in shares of Prologis Inc (NYSE:PLD) by 159.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,856 shares of the real estate investment trust’s stock after acquiring an additional 4,823 shares during the quarter. Advisory Services Network LLC’s holdings in Prologis were worth $533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its stake in Prologis by 4.9% during the second quarter. BlackRock Inc. now owns 57,370,073 shares of the real estate investment trust’s stock worth $3,768,639,000 after buying an additional 2,674,518 shares in the last quarter. Cbre Clarion Securities LLC boosted its stake in Prologis by 2.7% during the second quarter. Cbre Clarion Securities LLC now owns 7,919,441 shares of the real estate investment trust’s stock worth $520,228,000 after buying an additional 210,819 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Prologis by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,900,910 shares of the real estate investment trust’s stock worth $519,006,000 after buying an additional 90,370 shares in the last quarter. PGGM Investments boosted its stake in Prologis by 15.0% during the third quarter. PGGM Investments now owns 7,136,300 shares of the real estate investment trust’s stock worth $483,770,000 after buying an additional 933,300 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Prologis by 7.1% during the second quarter. Bank of America Corp DE now owns 6,028,563 shares of the real estate investment trust’s stock worth $396,017,000 after buying an additional 400,104 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Shares of NYSE:PLD opened at $67.57 on Friday. Prologis Inc has a 52 week low of $58.28 and a 52 week high of $68.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market capitalization of $41.49 billion, a PE ratio of 24.05, a PEG ratio of 4.34 and a beta of 0.71.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Prologis had a net margin of 51.66% and a return on equity of 6.65%. The company had revenue of $611.00 million for the quarter, compared to the consensus estimate of $582.23 million. During the same quarter in the previous year, the company earned $1.63 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, sell-side analysts forecast that Prologis Inc will post 3.02 EPS for the current year.

In related news, CEO Eugene F. Reilly sold 15,000 shares of Prologis stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $67.20, for a total value of $1,008,000.00. Following the completion of the transaction, the chief executive officer now directly owns 36,685 shares of the company’s stock, valued at $2,465,232. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward S. Nekritz sold 18,099 shares of Prologis stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $67.66, for a total value of $1,224,578.34. Following the completion of the transaction, the insider now directly owns 106,102 shares of the company’s stock, valued at $7,178,861.32. The disclosure for this sale can be found here. Insiders sold a total of 37,907 shares of company stock worth $2,556,878 in the last 90 days. 1.31% of the stock is owned by corporate insiders.

PLD has been the topic of a number of recent research reports. SunTrust Banks set a $70.00 price target on shares of Prologis and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Barclays reiterated a “buy” rating and set a $70.00 price target on shares of Prologis in a research note on Sunday, October 14th. ValuEngine downgraded shares of Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, September 12th. Finally, JPMorgan Chase & Co. set a $72.00 target price on shares of Prologis and gave the company a “buy” rating in a research note on Thursday, August 23rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.93.

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About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 685 million square feet (64 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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