Swiss National Bank Has $113.36 Million Position in Prologis, Inc. (PLD)
Swiss National Bank boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,933,060 shares of the real estate investment trust’s stock after buying an additional 60,000 shares during the period. Swiss National Bank owned approximately 0.36% of Prologis worth $113,355,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of 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. purchased a new stake in shares of Prologis during the first quarter valued at approximately $227,403,000. FMR LLC increased its stake in shares of 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 purchased a new stake in shares of Prologis during the second quarter valued at approximately $120,268,000. Finally, Vanguard Group Inc. increased its stake in shares of 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. Institutional investors own 95.99% of the company’s stock.
Prologis, Inc. (NYSE:PLD) opened at 63.36 on Friday. The company has a market cap of $33.70 billion, a price-to-earnings ratio of 28.44 and a beta of 0.94. The firm’s 50-day moving average is $60.96 and its 200-day moving average is $55.89. Prologis, Inc. has a 12 month low of $45.93 and a 12 month high of $63.58.
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, topping the Zacks’ consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The business had revenue of $766.18 million during the quarter, compared to analyst estimates of $576 million. During the same quarter in the previous year, the firm earned $0.60 EPS. Prologis’s revenue was up 27.2% on a year-over-year basis. On average, analysts anticipate that Prologis, Inc. will post ($0.27) EPS for the current fiscal year.
Several analysts have recently commented on PLD shares. Evercore ISI reiterated an “outperform” rating and issued a $64.00 target price (up previously from $61.00) on shares of Prologis in a report on Friday, July 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $60.00 target price (up previously from $54.00) on shares of Prologis in a report on Sunday, June 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 target price on shares of Prologis in a report on Thursday, July 6th. Bank of America Corporation upgraded 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 report on Friday, June 23rd. Finally, Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Monday, May 22nd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $60.00.
In other news, CEO Gary E. Anderson sold 65,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $58.55, for a total transaction of $3,805,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl B. Webb sold 20,000 shares of the company’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 directly owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The disclosure for this sale can be found here. 1.31% of the stock is owned by corporate 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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