Artemis Investment Management LLP Boosts Stake in Prologis, Inc. (PLD)
Artemis Investment Management LLP boosted its position in Prologis, Inc. (NYSE:PLD) by 6,317.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,281 shares of the real estate investment trust’s stock after buying an additional 361,558 shares during the period. Artemis Investment Management LLP owned about 0.07% of Prologis worth $21,536,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Creative Planning raised its stake in shares of Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 234 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Prologis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 14 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Prologis by 10.7% in the first quarter. IFP Advisors Inc now owns 2,249 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 218 shares in the last quarter. Independent Portfolio Consultants Inc. raised its stake in shares of Prologis by 82.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock worth $159,000 after buying an additional 1,225 shares in the last quarter. Finally, Solaris Asset Management LLC raised its stake in shares of Prologis by 1.8% in the first quarter. Solaris Asset Management LLC now owns 2,825 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.
Prologis, Inc. (NYSE:PLD) opened at 63.36 on Friday. The firm’s 50-day moving average price is $60.96 and its 200 day moving average price is $55.89. Prologis, Inc. has a one year low of $45.93 and a one year high of $63.58. The firm has a market capitalization of $33.70 billion, a P/E ratio of 28.44 and a beta of 0.94.
Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The firm had revenue of $766.18 million for the quarter, compared to analysts’ expectations of $576 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities analysts anticipate that Prologis, Inc. will post ($0.27) earnings per share for the current fiscal year.
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A number of brokerages recently weighed in on PLD. BidaskClub upgraded Prologis from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Jefferies Group LLC restated a “hold” rating and set a $66.00 price objective (up previously from $59.00) on shares of Prologis in a research report on Thursday, August 24th. KeyCorp restated a “buy” rating and set a $65.00 price objective on shares of Prologis in a research report on Sunday, August 27th. Royal Bank Of Canada restated a “buy” rating and set a $59.00 price objective on shares of Prologis in a research report on Thursday, June 8th. Finally, Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Prologis currently has an average rating of “Buy” and an average price target of $60.00.
In related news, CEO Gary E. Anderson sold 65,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $58.55, for a total value of $3,805,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $61.38, for a total value of $1,227,600.00. Following the completion of the sale, the director now directly owns 66,078 shares in the company, valued at $4,055,867.64. The disclosure for this sale can be found here. 1.31% of the stock is owned by company insiders.
Prologis Company Profile
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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