Fisher Asset Management LLC Decreases Stake in Prologis Inc. (PLD)
Fisher Asset Management LLC decreased its stake in Prologis Inc. (NYSE:PLD) by 11.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,193 shares of the company’s stock after selling 23,019 shares during the period. Fisher Asset Management LLC’s holdings in Prologis were worth $9,219,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. purchased a new position in Prologis during the first quarter valued at $1,112,000. LPL Financial LLC increased its position in Prologis by 9.4% in the first quarter. LPL Financial LLC now owns 32,061 shares of the company’s stock valued at $1,415,000 after buying an additional 2,751 shares during the last quarter. Arizona State Retirement System increased its position in Prologis by 1.8% in the first quarter. Arizona State Retirement System now owns 142,300 shares of the company’s stock valued at $6,287,000 after buying an additional 2,500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Prologis by 359.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 29,517 shares of the company’s stock valued at $1,305,000 after buying an additional 23,095 shares during the last quarter. Finally, British Columbia Investment Management Corp increased its position in Prologis by 1.4% in the second quarter. British Columbia Investment Management Corp now owns 334,389 shares of the company’s stock valued at $16,398,000 after buying an additional 4,505 shares during the last quarter. Institutional investors own 98.90% of the company’s stock.
Prologis Inc. (NYSE:PLD) traded down 0.02% during trading on Friday, reaching $49.70. The company had a trading volume of 1,191,037 shares. The company has a market capitalization of $26.27 billion, a PE ratio of 29.69 and a beta of 1.15. The firm’s 50 day moving average is $50.18 and its 200 day moving average is $50.91. Prologis Inc. has a one year low of $35.25 and a one year high of $54.87.
Prologis (NYSE:PLD) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm earned $705 million during the quarter, compared to analyst estimates of $221.07 million. Prologis had a return on equity of 4.86% and a net margin of 34.73%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 earnings per share. On average, equities research analysts predict that Prologis Inc. will post ($0.27) earnings per share for the current year.
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PLD has been the subject of several research reports. Capital One Financial Corp. downgraded Prologis from an “equal weight” rating to an “underweight” rating and set a $48.00 price target for the company. in a research note on Monday, August 8th. Robert W. Baird cut Prologis from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $52.00 to $54.00 in a report on Wednesday, August 17th. BTIG Research assumed coverage on Prologis in a report on Thursday, August 25th. They set a “buy” rating and a $60.00 price objective on the stock. Wells Fargo & Co. reissued a “neutral” rating on shares of Prologis in a report on Sunday, September 4th. Finally, Morgan Stanley set a $58.00 price objective on Prologis and gave the stock a “buy” rating in a report on Tuesday, September 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $51.31.
Prologis Company Profile
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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