Rafferty Asset Management LLC lifted its holdings in Prologis Inc (NYSE:PLD) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,284 shares of the real estate investment trust’s stock after acquiring an additional 11,324 shares during the period. Rafferty Asset Management LLC’s holdings in Prologis were worth $11,611,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of PLD. Advisors Preferred LLC grew its stake in shares of Prologis by 141.1% in the 2nd quarter. Advisors Preferred LLC now owns 1,685 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 986 shares during the period. Palo Capital Inc. acquired a new stake in shares of Prologis in the 3rd quarter valued at about $150,000. Quadrant Capital Group LLC grew its stake in shares of Prologis by 48.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,507 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 821 shares during the period. Kistler Tiffany Companies LLC acquired a new stake in shares of Prologis in the 3rd quarter valued at about $160,000. Finally, NuWave Investment Management LLC acquired a new stake in shares of Prologis in the 2nd quarter valued at about $186,000. 89.25% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented on the company. ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. BMO Capital Markets restated a “buy” rating and issued a $70.00 target price on shares of Prologis in a research note on Tuesday, October 16th. Scotiabank assumed coverage on Prologis in a research note on Tuesday, October 16th. They issued a “sector perform” rating for the company. Finally, Barclays restated a “buy” rating and issued a $70.00 target price on shares of Prologis in a research note on Sunday, October 14th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Prologis has an average rating of “Buy” and an average target price of $71.93.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $611.00 million during the quarter, compared to the consensus estimate of $582.23 million. Prologis had a return on equity of 6.65% and a net margin of 51.66%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. On average, analysts forecast that Prologis Inc will post 3.02 EPS for the current year.
In other Prologis news, Director Philip L. Hawkins sold 15,000 shares of Prologis stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $67.23, for a total transaction of $1,008,450.00. Following the completion of the transaction, the director now owns 69,511 shares in the company, valued at approximately $4,673,224.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Irving F. Lyons III sold 4,808 shares of Prologis stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $67.45, for a total value of $324,299.60. Following the transaction, the director now owns 9,863 shares of the company’s stock, valued at approximately $665,259.35. The disclosure for this sale can be found here. Insiders have sold a total of 52,907 shares of company stock valued at $3,565,328 in the last quarter. Company insiders own 1.31% of the company’s stock.
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Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 771 million square feet (72 million square meters) in 19 countries.
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