PNC Financial Services Group Inc. increased its stake in shares of Prologis Inc. (NYSE:PLD) by 674.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 333,525 shares of the company’s stock after buying an additional 290,433 shares during the period. PNC Financial Services Group Inc. owned approximately 0.06% of Prologis worth $17,856,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Evercore Wealth Management LLC boosted its stake in shares of Prologis by 7.6% in the second quarter. Evercore Wealth Management LLC now owns 2,065 shares of the company’s stock valued at $101,000 after buying an additional 145 shares during the last quarter. Solaris Asset Management LLC bought a new stake in shares of Prologis during the third quarter valued at approximately $131,000. Global X Management Co. LLC boosted its stake in shares of Prologis by 63.4% in the second quarter. Global X Management Co. LLC now owns 2,852 shares of the company’s stock valued at $140,000 after buying an additional 1,107 shares during the last quarter. Creative Planning boosted its stake in shares of Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock valued at $142,000 after buying an additional 325 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Prologis during the second quarter valued at approximately $149,000. Institutional investors and hedge funds own 99.13% of the company’s stock.

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Shares of Prologis Inc. (NYSE:PLD) traded down 1.52% on Wednesday, reaching $50.66. The company’s stock had a trading volume of 787,402 shares. Prologis Inc. has a 52-week low of $35.25 and a 52-week high of $54.87. The company has a market cap of $26.78 billion, a price-to-earnings ratio of 30.26 and a beta of 1.15. The stock has a 50-day moving average of $50.21 and a 200 day moving average of $50.99.

Prologis (NYSE:PLD) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Prologis had a return on equity of 4.86% and a net margin of 34.73%. The company had revenue of $705 million for the quarter, compared to analyst estimates of $221.07 million. During the same period in the previous year, the company posted $0.58 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. On average, equities research analysts forecast that Prologis Inc. will post ($0.27) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This story was first published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright & trademark laws. The correct version of this story can be viewed at https://www.thecerbatgem.com/2016/11/30/pnc-financial-services-group-inc-has-17856000-position-in-prologis-inc-pld.html.

Several analysts recently commented on PLD shares. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Thursday, November 17th. Cantor Fitzgerald set a $55.00 price target on Prologis and gave the company a “buy” rating in a research note on Thursday, November 10th. BTIG Research initiated coverage on Prologis in a research note on Thursday, August 25th. They issued a “buy” rating and a $60.00 price target on the stock. Morgan Stanley set a $58.00 price target on Prologis and gave the company a “buy” rating in a research note on Tuesday, September 6th. Finally, Evercore ISI raised Prologis from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Tuesday, October 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $51.36.

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.

5 Day Chart for NYSE:PLD

Receive News & Stock Ratings for Prologis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis Inc. and related stocks with our FREE daily email newsletter.