361 Capital LLC Buys Shares of 73,902 Prologis, Inc. (PLD)
361 Capital LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 73,902 shares of the real estate investment trust’s stock, valued at approximately $4,690,000. Prologis accounts for 0.9% of 361 Capital LLC’s portfolio, making the stock its 9th biggest holding.
Other hedge funds also recently modified their holdings of the company. Wesbanco Bank Inc. boosted its holdings in Prologis by 76.9% during the 2nd quarter. Wesbanco Bank Inc. now owns 29,900 shares of the real estate investment trust’s stock valued at $1,753,000 after acquiring an additional 13,000 shares during the period. Swiss National Bank lifted its holdings in Prologis by 3.2% in the 2nd quarter. Swiss National Bank now owns 1,933,060 shares of the real estate investment trust’s stock worth $113,355,000 after buying an additional 60,000 shares during the period. Cipher Capital LP lifted its holdings in Prologis by 98.1% in the 2nd quarter. Cipher Capital LP now owns 44,673 shares of the real estate investment trust’s stock worth $2,620,000 after buying an additional 22,120 shares during the period. Lazard Asset Management LLC lifted its holdings in Prologis by 3,877.2% in the 2nd quarter. Lazard Asset Management LLC now owns 2,533,654 shares of the real estate investment trust’s stock worth $148,573,000 after buying an additional 2,469,949 shares during the period. Finally, BlackRock Inc. lifted its holdings in Prologis by 1.3% in the 2nd quarter. BlackRock Inc. now owns 51,529,145 shares of the real estate investment trust’s stock worth $3,021,668,000 after buying an additional 673,429 shares during the period. Institutional investors own 95.54% of the company’s stock.
Several research firms have weighed in on PLD. Citigroup Inc. increased their price objective on Prologis from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. KeyCorp increased their price objective on Prologis from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, October 16th. BMO Capital Markets began coverage on Prologis in a report on Monday, September 11th. They issued an “outperform” rating and a $69.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $65.00 price objective on shares of Prologis in a report on Thursday, September 21st. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $68.00 price objective on shares of Prologis in a report on Thursday, October 12th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $65.50.
Prologis, Inc. (NYSE:PLD) traded down $1.60 during mid-day trading on Thursday, reaching $65.59. The company had a trading volume of 2,068,100 shares, compared to its average volume of 2,446,007. Prologis, Inc. has a one year low of $46.33 and a one year high of $67.25. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.53. The company has a market cap of $35,270.00, a price-to-earnings ratio of 24.26, a PEG ratio of 4.50 and a beta of 0.92.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.67. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The company had revenue of $531.18 million during the quarter, compared to analyst estimates of $573.68 million. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. equities research analysts predict that Prologis, Inc. will post 2.8 earnings per share for the current year.
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.
Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (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.