Prologis, Inc. (PLD) Shares Bought by Arizona State Retirement System
Arizona State Retirement System increased its position in shares of Prologis, Inc. (NYSE:PLD) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 131,500 shares of the real estate investment trust’s stock after buying an additional 500 shares during the period. Arizona State Retirement System’s holdings in Prologis were worth $7,711,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Creative Planning raised its stake in shares of Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 234 shares during the period. Guardian Life Insurance Co. of America raised its stake in shares of 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 during the period. IFP Advisors Inc raised its stake in shares of Prologis by 10.7% in the first quarter. IFP Advisors Inc now owns 2,249 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 218 shares during the period. Solaris Asset Management LLC raised its stake in shares of 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 during the period. Finally, Independent Portfolio Consultants Inc. raised its stake in shares of 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 worth $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.
Prologis, Inc. (NYSE PLD) opened at 59.71 on Friday. Prologis, Inc. has a 52-week low of $45.93 and a 52-week high of $61.81. The firm has a market cap of $31.76 billion, a P/E ratio of 26.80 and a beta of 0.94. The company’s 50 day moving average is $59.49 and its 200 day moving average is $54.65.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.06. The business had revenue of $766.18 million for the quarter, compared to the consensus estimate of $576 million. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Equities research analysts forecast that Prologis, Inc. will post ($0.27) EPS for the current fiscal year.
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Several equities research analysts have commented on the stock. Stifel Nicolaus upped their price target on shares of 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 reaffirmed a “buy” rating and issued a $59.00 price target on shares of Prologis in a report on Thursday, June 8th. Zacks Investment Research raised shares of Prologis from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, June 14th. Citigroup Inc. upped their price target on shares of Prologis from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. Finally, Bank of America Corporation raised shares of Prologis from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $65.00 in a report on Friday, June 23rd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $59.60.
In related news, Director Carl B. Webb sold 20,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hamid R. Moghadam sold 271,788 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 36,997 shares in the company, valued at approximately $2,073,311.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 483,807 shares of company stock worth $27,400,851. 1.31% of the stock is owned by insiders.
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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