Prologis, Inc. (NYSE:PLD) Position Cut by Cigna Investments Inc. New
Cigna Investments Inc. New cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.2% during the second quarter, Holdings Channel reports. The firm owned 20,484 shares of the real estate investment trust’s stock after selling 1,344 shares during the period. Cigna Investments Inc. New’s holdings in Prologis were worth $1,201,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of PLD. Creative Planning raised its position in Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 234 shares during the period. Guardian Life Insurance Co. of America raised its position in 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 valued at $106,000 after buying an additional 14 shares during the period. IFP Advisors Inc raised its position in Prologis by 10.7% in the first quarter. IFP Advisors Inc now owns 2,249 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 218 shares during the period. Solaris Asset Management LLC raised its position in 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 valued at $147,000 after buying an additional 50 shares during the period. Finally, Independent Portfolio Consultants Inc. raised its position in 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 valued at $159,000 after buying an additional 1,225 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Prologis, Inc. (NYSE PLD) opened at 60.74 on Thursday. The company has a 50-day moving average of $59.38 and a 200-day moving average of $54.56. Prologis, Inc. has a 12 month low of $45.93 and a 12 month high of $61.81. The firm has a market cap of $32.31 billion, a P/E ratio of 27.26 and a beta of 0.94.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The firm had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576 million. During the same quarter in the prior year, the firm earned $0.60 EPS. Prologis’s quarterly revenue was up 27.2% on a year-over-year basis. Equities analysts forecast that Prologis, Inc. will post ($0.27) EPS for the current fiscal year.
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Several research firms recently commented on PLD. Stifel Nicolaus increased their target price on Prologis from $57.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $59.00 target price on shares of Prologis in a report on Thursday, June 8th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Wednesday, June 14th. Citigroup Inc. raised their price objective on Prologis from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, April 25th. Finally, Bank of America Corporation raised Prologis from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $58.00 to $65.00 in a report on Friday, June 23rd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $59.60.
In other news, Director Carl B. Webb sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 66,078 shares in the company, valued at $4,055,867.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward S. Nekritz sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $55.31, for a total transaction of $1,382,750.00. Following the completion of the transaction, the insider now owns 199,950 shares of the company’s stock, valued at $11,059,234.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 483,807 shares of company stock valued at $27,400,851. 1.31% of the stock is owned by insiders.
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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