Raymond James Financial Services Advisors Inc. Has $545,000 Holdings in Prologis, Inc. (PLD)
Raymond James Financial Services Advisors Inc. boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 7.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,289 shares of the real estate investment trust’s stock after acquiring an additional 626 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Prologis were worth $545,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of PLD. Bank of Nova Scotia increased its stake in Prologis by 3.6% during the first quarter. Bank of Nova Scotia now owns 12,224 shares of the real estate investment trust’s stock worth $634,000 after acquiring an additional 420 shares during the last quarter. Independent Portfolio Consultants Inc. increased its stake in Prologis by 82.0% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 1,225 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Prologis by 11.5% during the second quarter. Xact Kapitalforvaltning AB now owns 176,608 shares of the real estate investment trust’s stock valued at $10,356,000 after buying an additional 18,223 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Prologis during the second quarter valued at approximately $416,000. Finally, BKD Wealth Advisors LLC grew its stake in shares of Prologis by 1.3% during the second quarter. BKD Wealth Advisors LLC now owns 6,091 shares of the real estate investment trust’s stock valued at $357,000 after buying an additional 77 shares during the last quarter. 95.88% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on PLD. BMO Capital Markets began coverage on Prologis in a research note on Monday, September 11th. They set an “outperform” rating and a $69.00 target price on the stock. SunTrust Banks, Inc. raised Prologis from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, September 5th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Monday, July 31st. Bank of America Corporation set a $72.00 target price on Prologis and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, KeyCorp reaffirmed a “buy” rating and set a $65.00 target price on shares of Prologis in a research note on Friday, September 29th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Prologis currently has an average rating of “Buy” and an average price target of $64.80.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The firm had revenue of $531.18 million during the quarter, compared to the consensus estimate of $573.68 million. During the same quarter last year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis.
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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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