Canada Pension Plan Investment Board Buys 368,300 Shares of Prologis Inc (PLD)

Canada Pension Plan Investment Board grew its stake in shares of Prologis Inc (NYSE:PLD) by 21.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,061,173 shares of the real estate investment trust’s stock after buying an additional 368,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Prologis were worth $139,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PLD. Creative Planning raised its stake in shares of Prologis by 19.3% during the second quarter. Creative Planning now owns 6,441 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 1,043 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Prologis during the second quarter valued at approximately $1,071,000. Janney Montgomery Scott LLC raised its stake in shares of Prologis by 0.7% during the second quarter. Janney Montgomery Scott LLC now owns 162,194 shares of the real estate investment trust’s stock valued at $10,655,000 after purchasing an additional 1,174 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Prologis by 16.9% during the second quarter. BNP Paribas Arbitrage SA now owns 290,371 shares of the real estate investment trust’s stock valued at $19,074,000 after purchasing an additional 42,052 shares during the period. Finally, Advisor Partners LLC raised its stake in shares of Prologis by 19.0% during the second quarter. Advisor Partners LLC now owns 11,516 shares of the real estate investment trust’s stock valued at $756,000 after purchasing an additional 1,840 shares during the period. Hedge funds and other institutional investors own 89.25% of the company’s stock.

A number of analysts have recently issued reports on PLD shares. SunTrust Banks set a $70.00 price objective on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, August 7th. Barclays reissued a “buy” rating and set a $70.00 price target on shares of Prologis in a research report on Sunday, October 14th. Zacks Investment Research downgraded shares of Prologis from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. JPMorgan Chase & Co. set a $72.00 price target on shares of Prologis and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Finally, BTIG Research set a $73.00 price target on shares of Prologis and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Prologis presently has an average rating of “Buy” and an average target price of $71.93.

PLD stock opened at $66.96 on Friday. Prologis Inc has a twelve month low of $58.28 and a twelve month high of $68.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market cap of $42.13 billion, a PE ratio of 23.83, a P/E/G ratio of 4.40 and a beta of 0.71.

Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Prologis had a net margin of 51.66% and a return on equity of 6.65%. The business had revenue of $611.00 million during the quarter, compared to the consensus estimate of $582.23 million. During the same quarter last year, the company earned $1.63 earnings per share. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, analysts anticipate that Prologis Inc will post 3.02 EPS for the current year.

In other Prologis news, insider Edward S. Nekritz sold 18,099 shares of Prologis stock in a transaction on Friday, September 21st. The shares were sold at an average price of $67.66, for a total value of $1,224,578.34. Following the completion of the transaction, the insider now owns 106,102 shares of the company’s stock, valued at $7,178,861.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Irving F. Lyons III sold 4,808 shares of Prologis stock in a transaction on Friday, September 28th. The stock was sold at an average price of $67.45, for a total transaction of $324,299.60. Following the completion of the transaction, the director now directly owns 9,863 shares of the company’s stock, valued at approximately $665,259.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,907 shares of company stock valued at $3,565,328. 1.31% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: This piece was reported by WKRB News and is the property of of WKRB News. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://www.wkrb13.com/2018/11/24/canada-pension-plan-investment-board-buys-368300-shares-of-prologis-inc-pld.html.

Prologis 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.

See Also: What is Liquidity?

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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply