Everence Capital Management Inc. Has $766,000 Position in Prologis, Inc. (PLD)
Everence Capital Management Inc. held its stake in Prologis, Inc. (NYSE:PLD) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,062 shares of the real estate investment trust’s stock at the end of the second quarter. Everence Capital Management Inc.’s holdings in Prologis were worth $766,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Prologis by 2.5% in the first quarter. Vanguard Group Inc. now owns 76,655,768 shares of the real estate investment trust’s stock worth $3,976,902,000 after buying an additional 1,873,351 shares in the last quarter. BlackRock Inc. increased its stake in Prologis by 2,123.5% in the first quarter. BlackRock Inc. now owns 50,855,716 shares of the real estate investment trust’s stock worth $2,638,393,000 after buying an additional 48,568,495 shares in the last quarter. State Street Corp increased its stake in Prologis by 0.6% in the first quarter. State Street Corp now owns 31,172,110 shares of the real estate investment trust’s stock worth $1,617,220,000 after buying an additional 177,743 shares in the last quarter. FMR LLC increased its stake in Prologis by 9.4% in the first quarter. FMR LLC now owns 24,650,787 shares of the real estate investment trust’s stock worth $1,278,883,000 after buying an additional 2,127,092 shares in the last quarter. Finally, APG Asset Management US Inc. increased its stake in Prologis by 0.7% in the first quarter. APG Asset Management US Inc. now owns 17,260,069 shares of the real estate investment trust’s stock worth $895,452,000 after buying an additional 117,972 shares in the last quarter. 95.57% of the stock is owned by institutional investors.
Prologis, Inc. (NYSE PLD) opened at 61.23 on Friday. Prologis, Inc. has a 1-year low of $45.93 and a 1-year high of $62.87. The company has a 50-day moving average price of $59.89 and a 200-day moving average price of $55.04. The firm has a market cap of $32.57 billion, a P/E ratio of 27.48 and a beta of 0.94.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The firm had revenue of $766.18 million for the quarter, compared to analysts’ expectations of $576 million. During the same quarter last year, the firm posted $0.60 EPS. The company’s revenue was up 27.2% compared to the same quarter last year. On average, equities research analysts forecast that Prologis, Inc. will post ($0.27) EPS for the current fiscal year.
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A number of equities research analysts have recently weighed in on PLD shares. BidaskClub downgraded Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC reissued a “hold” rating and set a $60.00 target price (up previously from $54.00) on shares of Prologis in a report on Sunday, June 25th. Barclays PLC reissued an “overweight” rating and set a $61.00 target price (up previously from $59.00) on shares of Prologis in a report on Monday, July 24th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Wednesday, June 7th. Finally, Evercore ISI reissued an “outperform” rating and set a $64.00 target price (up previously from $61.00) on shares of Prologis in a report on Friday, July 21st. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $59.60.
In related news, insider Edward S. Nekritz sold 16,850 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $56.98, for a total transaction of $960,113.00. Following the transaction, the insider now directly owns 191,800 shares of the company’s stock, valued at approximately $10,928,764. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hamid R. Moghadam sold 14,067 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $56.00, for a total value of $787,752.00. Following the transaction, the chief executive officer now directly owns 3,267 shares in the company, valued at $182,952. The disclosure for this sale can be found here. In the last ninety days, insiders sold 458,807 shares of company stock worth $26,018,101. Insiders own 1.31% of the company’s stock.
Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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