Swiss National Bank Sells 15,200 Shares of Prologis Inc. (PLD)
Swiss National Bank reduced its position in shares of Prologis Inc. (NYSE:PLD) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,455,760 shares of the company’s stock after selling 15,200 shares during the period. Swiss National Bank owned 0.28% of Prologis worth $77,941,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Prologis by 2.3% in the second quarter. Vanguard Group Inc. now owns 73,654,987 shares of the company’s stock worth $3,612,041,000 after buying an additional 1,623,990 shares in the last quarter. Cohen & Steers Inc. increased its stake in Prologis by 194.7% in the second quarter. Cohen & Steers Inc. now owns 31,179,168 shares of the company’s stock valued at $1,529,026,000 after buying an additional 20,598,621 shares during the period. FMR LLC increased its stake in Prologis by 22.4% in the second quarter. FMR LLC now owns 18,463,142 shares of the company’s stock valued at $905,433,000 after buying an additional 3,379,560 shares during the period. Daiwa Securities Group Inc. increased its stake in Prologis by 4.1% in the third quarter. Daiwa Securities Group Inc. now owns 16,076,303 shares of the company’s stock valued at $860,726,000 after buying an additional 638,992 shares during the period. Finally, BlackRock Fund Advisors increased its stake in Prologis by 1.7% in the second quarter. BlackRock Fund Advisors now owns 15,560,078 shares of the company’s stock valued at $763,066,000 after buying an additional 265,092 shares during the period. 99.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Prologis Inc. (NYSE:PLD) opened at 50.61 on Tuesday. Prologis Inc. has a 12 month low of $35.25 and a 12 month high of $54.87. The company has a 50-day moving average price of $50.21 and a 200-day moving average price of $50.99. The stock has a market cap of $26.75 billion, a price-to-earnings ratio of 30.23 and a beta of 1.15.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $705 million for 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%. Prologis’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS. On average, analysts expect that Prologis Inc. will post ($0.27) EPS for the current fiscal year.
Several analysts have recently weighed in on the company. BTIG Research assumed coverage on Prologis in a research report on Thursday, August 25th. They set a “buy” rating and a $60.00 target price for the company. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and set a $55.00 target price for the company in a research report on Monday. Cantor Fitzgerald set a $55.00 target price on Prologis and gave the stock a “buy” rating in a research report on Thursday, November 10th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $57.00 target price on shares of Prologis in a research report on Wednesday, November 2nd. Finally, Wells Fargo & Co. reiterated a “neutral” rating on shares of Prologis in a research report on Sunday, September 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $51.36.
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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