Sei Investments Co. Sells 23,771 Shares of Prologis Inc (NYSE:PLD)

Sei Investments Co. reduced its stake in Prologis Inc (NYSE:PLD) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,032,033 shares of the real estate investment trust’s stock after selling 23,771 shares during the period. Sei Investments Co. owned 0.16% of Prologis worth $92,053,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PLD. PGGM Investments boosted its stake in shares of Prologis by 52.2% during the fourth quarter. PGGM Investments now owns 6,304,262 shares of the real estate investment trust’s stock valued at $561,962,000 after purchasing an additional 2,162,216 shares in the last quarter. State Street Corp raised its holdings in shares of Prologis by 1.3% in the third quarter. State Street Corp now owns 43,899,288 shares of the real estate investment trust’s stock worth $3,741,097,000 after buying an additional 571,305 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Prologis by 300.5% in the third quarter. First Trust Advisors LP now owns 706,631 shares of the real estate investment trust’s stock worth $60,219,000 after buying an additional 530,191 shares during the last quarter. Lasalle Investment Management Securities LLC raised its holdings in shares of Prologis by 32.5% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 1,567,847 shares of the real estate investment trust’s stock worth $139,758,000 after buying an additional 384,972 shares during the last quarter. Finally, Mackay Shields LLC raised its holdings in shares of Prologis by 303.1% in the third quarter. Mackay Shields LLC now owns 498,684 shares of the real estate investment trust’s stock worth $42,498,000 after buying an additional 374,969 shares during the last quarter. Institutional investors and hedge funds own 95.40% of the company’s stock.

A number of research analysts have issued reports on PLD shares. Edward Jones cut shares of Prologis from a “buy” rating to a “hold” rating in a report on Thursday, December 19th. Deutsche Bank increased their price objective on shares of Prologis from $89.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Monday, January 20th. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Prologis in a research note on Wednesday, November 6th. Finally, KeyCorp increased their price objective on shares of Prologis from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Prologis currently has a consensus rating of “Buy” and an average price target of $96.79.

PLD stock traded up $1.08 during midday trading on Friday, hitting $97.55. 3,296,042 shares of the stock traded hands, compared to its average volume of 3,865,875. The firm has a market cap of $61.23 billion, a P/E ratio of 39.49, a PEG ratio of 4.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 1.27. The stock’s fifty day simple moving average is $92.35 and its 200-day simple moving average is $87.82. Prologis Inc has a 1-year low of $68.96 and a 1-year high of $97.64.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $0.84 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $727.32 million. Prologis had a net margin of 47.23% and a return on equity of 6.08%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $0.80 earnings per share. On average, research analysts predict that Prologis Inc will post 3.72 earnings per share for the current year.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 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 768 million square feet (71 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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