Duff & Phelps Investment Management Co. reduced its position in Prologis, Inc. (NYSE:PLD) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 2,068,947 shares of the real estate investment trust’s stock after selling 66,375 shares during the period. Prologis comprises approximately 1.7% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 6th largest position. Duff & Phelps Investment Management Co.’s holdings in Prologis were worth $121,323,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PLD. Guardian Life Insurance Co. of America increased 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 worth $106,000 after buying an additional 14 shares in the last quarter. Solaris Asset Management LLC increased 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 worth $147,000 after buying an additional 50 shares in the last quarter. Shine Investment Advisory Services Inc. increased its position in Prologis by 0.6% in the second quarter. Shine Investment Advisory Services Inc. now owns 8,929 shares of the real estate investment trust’s stock worth $524,000 after buying an additional 52 shares in the last quarter. Creative Planning increased its position in Prologis by 3.4% in the second quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 69 shares in the last quarter. Finally, Quadrant Capital Management LLC increased its position in Prologis by 0.3% in the first quarter. Quadrant Capital Management LLC now owns 22,621 shares of the real estate investment trust’s stock worth $1,174,000 after buying an additional 75 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Shares of Prologis, Inc. (NYSE PLD) opened at 59.94 on Friday. The firm has a 50-day moving average of $59.43 and a 200 day moving average of $54.60. Prologis, Inc. has a 1-year low of $45.93 and a 1-year high of $61.81. The stock has a market capitalization of $31.88 billion, a PE ratio of 26.90 and a beta of 0.94.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.06. The business had revenue of $766.18 million during the quarter, compared to analyst estimates of $576 million. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The company’s revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. Analysts predict that Prologis, Inc. will post ($0.27) EPS for the current year.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.watchlistnews.com/prologis-inc-nysepld-shares-sold-by-duff-phelps-investment-management-co/1471631.html.

A number of research analysts have recently weighed in on PLD shares. Stifel Nicolaus increased their target price on shares of Prologis from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 30th. Zacks Investment Research raised shares of Prologis from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Monday, May 22nd. Bank of America Corporation raised shares of Prologis from a “neutral” rating to a “buy” rating and increased their target price for the company from $58.00 to $65.00 in a research report on Friday, June 23rd. BidaskClub downgraded shares of Prologis from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $59.00 target price on shares of Prologis in a research report on Thursday, June 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $59.60.

In other Prologis news, CEO Hamid R. Moghadam sold 271,788 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $56.04, for a total value of $15,230,999.52. Following the completion of the transaction, the chief executive officer now directly owns 36,997 shares in the company, valued at $2,073,311.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carl B. Webb sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the completion of the transaction, 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 sold 483,807 shares of company stock valued at $27,400,851. Company 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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.