Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Decreases Position in Prologis, Inc. (NYSE:PLD)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 7.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 155,351 shares of the real estate investment trust’s stock after selling 12,412 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Prologis were worth $9,110,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Prologis by 2,123.5% in the first quarter. BlackRock Inc. now owns 50,855,716 shares of the real estate investment trust’s stock valued at $2,638,393,000 after buying an additional 48,568,495 shares in the last quarter. Brookfield Asset Management Inc. acquired a new stake in Prologis during the first quarter valued at $227,403,000. FMR LLC boosted its stake in Prologis by 9.4% in the first quarter. FMR LLC now owns 24,650,787 shares of the real estate investment trust’s stock valued at $1,278,883,000 after buying an additional 2,127,092 shares in the last quarter. Swedbank acquired a new stake in Prologis during the second quarter valued at $120,268,000. Finally, Vanguard Group Inc. boosted its stake in Prologis by 2.5% in the first quarter. Vanguard Group Inc. now owns 76,655,768 shares of the real estate investment trust’s stock valued at $3,976,902,000 after buying an additional 1,873,351 shares in the last quarter. 95.30% of the stock is owned by institutional investors.
Prologis, Inc. (PLD) opened at 59.94 on Friday. The firm’s 50-day moving average price is $59.43 and its 200 day moving average price is $54.60. The firm has a market capitalization of $31.88 billion, a price-to-earnings ratio of 26.90 and a beta of 0.94. Prologis, Inc. has a 1-year low of $45.93 and a 1-year high of $61.81.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.06. The business had revenue of $766.18 million during the quarter, compared to the consensus estimate of $576 million. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. On average, analysts predict that Prologis, Inc. will post ($0.27) EPS for the current year.
PLD has been the subject of several research reports. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Friday, April 21st. Citigroup Inc. raised their target price on Prologis from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 25th. Evercore ISI reaffirmed an “outperform” rating and issued a $64.00 target price (up from $61.00) on shares of Prologis in a research report on Friday, July 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $60.00 target price (up from $54.00) on shares of Prologis in a research report on Sunday, June 25th. Finally, Bank of America Corporation raised Prologis from a “neutral” rating to a “buy” rating and raised their target price for the stock from $58.00 to $65.00 in a research report on Friday, June 23rd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $59.60.
In other news, CEO Hamid R. Moghadam sold 271,788 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $56.04, for a total transaction of $15,230,999.52. Following the completion of the sale, the chief executive officer now directly owns 36,997 shares in the company, valued at approximately $2,073,311.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carl B. Webb sold 20,000 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $61.38, for a total value of $1,227,600.00. Following the sale, the director now owns 66,078 shares of the company’s stock, valued at $4,055,867.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 483,807 shares of company stock valued at $27,400,851. Corporate insiders own 1.31% of the company’s stock.
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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