TradeLink Capital LLC purchased a new position in shares of Prologis Inc (NYSE:PLD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,500 shares of the real estate investment trust’s stock, valued at approximately $296,000. Prologis comprises approximately 1.4% of TradeLink Capital LLC’s investment portfolio, making the stock its 18th largest holding.
A number of other hedge funds have also recently modified their holdings of the business. Millennium Management LLC bought a new stake in shares of Prologis in the 4th quarter valued at about $463,000. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Prologis by 10.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 25,911 shares of the real estate investment trust’s stock valued at $1,632,000 after acquiring an additional 2,430 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Prologis by 11.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,230,126 shares of the real estate investment trust’s stock valued at $329,445,000 after acquiring an additional 535,822 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in shares of Prologis by 23.1% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 242,824 shares of the real estate investment trust’s stock valued at $15,119,000 after acquiring an additional 45,586 shares during the last quarter. Finally, Dupont Capital Management Corp lifted its stake in shares of Prologis by 2.6% in the 1st quarter. Dupont Capital Management Corp now owns 110,900 shares of the real estate investment trust’s stock valued at $6,986,000 after acquiring an additional 2,837 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.
In other Prologis news, Director William D. Zollars sold 8,020 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $62.45, for a total transaction of $500,849.00. Following the completion of the transaction, the director now owns 11,490 shares of the company’s stock, valued at approximately $717,550.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael S. Curless sold 14,568 shares of the company’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $66.07, for a total value of $962,507.76. The disclosure for this sale can be found here. Insiders have sold a total of 49,654 shares of company stock valued at $3,215,404 in the last ninety days. 1.31% of the stock is currently owned by corporate insiders.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 EPS for the quarter, meeting analysts’ consensus estimates of $0.71. The business had revenue of $621.00 million during the quarter, compared to analyst estimates of $557.43 million. Prologis had a return on equity of 10.11% and a net margin of 74.17%. Prologis’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 EPS. equities research analysts forecast that Prologis Inc will post 3.01 EPS for the current fiscal year.
A number of research firms have recently weighed in on PLD. Barclays boosted their target price on Prologis from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, August 2nd. ValuEngine raised Prologis from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. SunTrust Banks set a $70.00 target price on Prologis and gave the company a “buy” rating in a research note on Tuesday, August 7th. BMO Capital Markets reissued a “buy” rating and issued a $68.00 target price on shares of Prologis in a research note on Tuesday, April 17th. Finally, Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Prologis currently has an average rating of “Buy” and an average price target of $70.33.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 683 million square feet (63 million square meters) in 19 countries.
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