Great Lakes Advisors LLC reduced its holdings in Prologis Inc (NYSE:PLD) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,624 shares of the real estate investment trust’s stock after selling 150 shares during the period. Great Lakes Advisors LLC’s holdings in Prologis were worth $2,483,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Prologis by 17.4% in the 3rd quarter. Vanguard Group Inc. now owns 81,760,597 shares of the real estate investment trust’s stock valued at $5,542,552,000 after acquiring an additional 12,095,509 shares during the last quarter. Morgan Stanley lifted its stake in shares of Prologis by 10.4% in the 3rd quarter. Morgan Stanley now owns 6,322,461 shares of the real estate investment trust’s stock valued at $428,599,000 after purchasing an additional 593,779 shares during the period. Legal & General Group Plc lifted its stake in shares of Prologis by 18.5% in the 3rd quarter. Legal & General Group Plc now owns 5,006,405 shares of the real estate investment trust’s stock valued at $339,343,000 after purchasing an additional 781,559 shares during the period. Standard Life Aberdeen plc lifted its stake in shares of Prologis by 33.6% in the 3rd quarter. Standard Life Aberdeen plc now owns 3,104,289 shares of the real estate investment trust’s stock valued at $210,439,000 after purchasing an additional 780,029 shares during the period. Finally, Rehmann Capital Advisory Group lifted its stake in shares of Prologis by 7,415.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 82,517 shares of the real estate investment trust’s stock valued at $1,217,000 after purchasing an additional 81,419 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Irving F. Lyons III sold 4,808 shares of the company’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $67.45, for a total transaction of $324,299.60. Following the completion of the sale, the director now owns 9,863 shares of the company’s stock, valued at $665,259.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward S. Nekritz sold 18,099 shares of the company’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $67.66, for a total transaction of $1,224,578.34. Following the sale, the insider now directly owns 106,102 shares of the company’s stock, valued at approximately $7,178,861.32. The disclosure for this sale can be found here. Insiders have sold 52,907 shares of company stock valued at $3,565,328 over the last 90 days. 1.32% of the stock is currently owned by company insiders.

Several equities analysts recently issued reports on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $70.00 target price on shares of Prologis in a research note on Tuesday, October 16th. BTIG Research set a $73.00 target price on shares of Prologis and gave the company a “buy” rating in a research note on Thursday, August 23rd. Barclays reiterated a “buy” rating and issued a $70.00 target price on shares of Prologis in a research note on Sunday, October 14th. Bank of America boosted their target price on shares of Prologis from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Finally, Zacks Investment Research cut shares of Prologis from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.93.

NYSE:PLD opened at $66.86 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.44. The firm has a market cap of $42.39 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 4.52 and a beta of 0.75. Prologis Inc has a fifty-two week low of $58.28 and a fifty-two week high of $68.95.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. The company had revenue of $611.00 million during the quarter, compared to analysts’ expectations of $582.23 million. Prologis had a net margin of 51.66% and a return on equity of 6.65%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share. As a group, equities research analysts predict that Prologis Inc will post 3.02 EPS for the current year.

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Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 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 771 million square feet (72 million square meters) in 19 countries.

Further Reading: When is a capital gain realized?

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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