Hartford Investment Management Co. Raises Stake in Prologis Inc (PLD)

Hartford Investment Management Co. lifted its position in shares of Prologis Inc (NYSE:PLD) by 25.4% in the first quarter, HoldingsChannel.com reports. The firm owned 142,673 shares of the real estate investment trust’s stock after purchasing an additional 28,882 shares during the period. Hartford Investment Management Co.’s holdings in Prologis were worth $10,265,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Prologis by 134.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 300 shares during the period. Clean Yield Group acquired a new position in shares of Prologis in the 4th quarter valued at approximately $31,000. PRW Wealth Management LLC acquired a new position in shares of Prologis in the 4th quarter valued at approximately $33,000. Lindbrook Capital LLC acquired a new position in shares of Prologis in the 4th quarter valued at approximately $33,000. Finally, Evolution Wealth Advisors LLC acquired a new position in shares of Prologis in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 95.15% of the company’s stock.

In other news, insider Edward S. Nekritz sold 30,671 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total value of $2,300,631.71. Following the completion of the transaction, the insider now owns 21,121 shares of the company’s stock, valued at $1,584,286.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eugene F. Reilly sold 19,000 shares of the stock in a transaction on Monday, February 11th. The stock was sold at an average price of $71.07, for a total value of $1,350,330.00. Following the completion of the transaction, the chief executive officer now directly owns 17,685 shares of the company’s stock, valued at approximately $1,256,872.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,797 shares of company stock valued at $11,196,560. 1.10% of the stock is owned by company insiders.

A number of equities analysts have issued reports on the company. Barclays reaffirmed a “buy” rating on shares of Prologis in a research report on Thursday, February 21st. ValuEngine lowered Prologis from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Friday. BMO Capital Markets reissued a “buy” rating and set a $70.00 price target on shares of Prologis in a research report on Sunday, April 21st. Finally, KeyCorp upped their price target on Prologis from $72.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Prologis has an average rating of “Buy” and a consensus target price of $73.17.

PLD traded down $0.45 during trading on Monday, reaching $75.65. 43,669 shares of the company were exchanged, compared to its average volume of 2,099,946. The company has a market cap of $48.00 billion, a P/E ratio of 24.95, a PEG ratio of 4.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.45. Prologis Inc has a 52 week low of $55.21 and a 52 week high of $76.13.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, April 16th. The real estate investment trust reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The firm had revenue of $696.80 million during the quarter, compared to the consensus estimate of $687.21 million. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The firm’s revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. As a group, research analysts anticipate that Prologis Inc will post 3.21 earnings per share for the current year.

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Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 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 768 million square feet (71 million square meters) in 19 countries.

Further Reading: How To Calculate Debt-to-Equity Ratio

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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