Securian Asset Management Inc lowered its holdings in Prologis Inc (NYSE:PLD) by 7.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 604,376 shares of the real estate investment trust’s stock after selling 51,652 shares during the period. Prologis accounts for approximately 1.0% of Securian Asset Management Inc’s investment portfolio, making the stock its 9th biggest holding. Securian Asset Management Inc’s holdings in Prologis were worth $43,484,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Clean Yield Group purchased a new position in shares of Prologis in the 4th quarter valued at approximately $31,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Prologis by 134.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 300 shares during the period. Lindbrook Capital LLC purchased a new position in shares of Prologis in the 4th quarter valued at approximately $33,000. PRW Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter valued at approximately $33,000. Finally, Evolution Wealth Advisors LLC purchased 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 related news, insider Edward S. Nekritz sold 16,059 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $71.86, for a total transaction of $1,153,999.74. Following the completion of the transaction, the insider now owns 51,792 shares of the company’s stock, valued at approximately $3,721,773.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edward S. Nekritz sold 32,499 shares of the firm’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $68.32, for a total value of $2,220,331.68. Following the transaction, the insider now directly owns 91,158 shares of the company’s stock, valued at approximately $6,227,914.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,797 shares of company stock valued at $11,196,560. 1.10% of the stock is owned by corporate insiders.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The company had revenue of $696.80 million during the quarter, compared to analyst estimates of $687.21 million. During the same quarter last year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities research analysts forecast that Prologis Inc will post 3.21 earnings per share for the current fiscal year.
A number of research firms have recently commented on PLD. KeyCorp raised their target price on Prologis from $72.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Barclays restated a “buy” rating on shares of Prologis in a research note on Thursday, February 21st. BMO Capital Markets restated a “buy” rating and issued a $70.00 target price on shares of Prologis in a research note on Sunday, April 21st. Wells Fargo & Co set a $65.00 target price on Prologis and gave the company a “market perform” rating in a research note on Wednesday, January 16th. They noted that the move was a valuation call. Finally, ValuEngine cut Prologis from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $73.17.
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.
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