Insider Selling: Prologis Inc (PLD) CEO Sells $1,008,000.00 in Stock
Prologis Inc (NYSE:PLD) CEO Eugene F. Reilly sold 15,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 36,685 shares of the company’s stock, valued at $2,465,232. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of NYSE PLD opened at $67.49 on Monday. Prologis Inc has a 12-month low of $58.28 and a 12-month high of $68.20. The firm has a market capitalization of $42.49 billion, a P/E ratio of 24.02, a P/E/G ratio of 4.41 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.71. Prologis had a return on equity of 10.11% and a net margin of 74.17%. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $557.43 million. During the same period in the prior year, the firm earned $0.84 EPS. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year. analysts forecast that Prologis Inc will post 3.01 earnings per share for the current year.
A number of analysts have recently commented on the company. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Bank of America increased their price target on Prologis from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, September 10th. Barclays increased their price target on Prologis from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, August 2nd. ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. Finally, SunTrust Banks set a $70.00 price target on Prologis and gave the company a “buy” rating in a report on Tuesday, August 7th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Prologis currently has a consensus rating of “Buy” and an average price target of $71.53.
Several institutional investors have recently made changes to their positions in PLD. BlackRock Inc. grew its stake in shares of Prologis by 4.9% during the second quarter. BlackRock Inc. now owns 57,370,073 shares of the real estate investment trust’s stock valued at $3,768,639,000 after acquiring an additional 2,674,518 shares in the last quarter. Millennium Management LLC grew its stake in shares of Prologis by 318.1% during the second quarter. Millennium Management LLC now owns 2,369,117 shares of the real estate investment trust’s stock valued at $155,627,000 after acquiring an additional 1,802,477 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Prologis by 3,317.1% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,619,596 shares of the real estate investment trust’s stock valued at $106,391,000 after acquiring an additional 1,572,199 shares in the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of Prologis during the second quarter valued at about $67,530,000. Finally, Long Pond Capital LP acquired a new stake in shares of Prologis during the second quarter valued at about $65,013,000. Institutional investors own 80.57% of the company’s stock.
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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