Penserra Capital Management LLC lowered its holdings in shares of Prologis Inc (NYSE:PLD) by 94.8% during the third quarter, Holdings Channel reports. The firm owned 753 shares of the real estate investment trust’s stock after selling 13,637 shares during the period. Penserra Capital Management LLC’s holdings in Prologis were worth $63,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in PLD. Vanguard Group Inc. increased its position in Prologis by 0.4% during the second quarter. Vanguard Group Inc. now owns 82,772,891 shares of the real estate investment trust’s stock worth $6,630,109,000 after buying an additional 307,216 shares during the last quarter. State Street Corp lifted its position in shares of Prologis by 1.3% in the third quarter. State Street Corp now owns 43,899,288 shares of the real estate investment trust’s stock worth $3,741,097,000 after buying an additional 571,305 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Prologis by 22.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,391,209 shares of the real estate investment trust’s stock worth $1,633,336,000 after acquiring an additional 3,763,203 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Prologis by 52.6% during the 2nd quarter. Invesco Ltd. now owns 16,686,890 shares of the real estate investment trust’s stock worth $1,336,620,000 after acquiring an additional 5,752,196 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Prologis by 3.7% during the 2nd quarter. Northern Trust Corp now owns 11,252,225 shares of the real estate investment trust’s stock worth $901,303,000 after acquiring an additional 397,397 shares in the last quarter. Institutional investors and hedge funds own 95.40% of the company’s stock.
Shares of PLD stock opened at $90.73 on Wednesday. The firm has a market capitalization of $57.32 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 4.95 and a beta of 1.00. Prologis Inc has a 1 year low of $55.21 and a 1 year high of $92.80. The firm’s fifty day simple moving average is $89.35 and its 200 day simple moving average is $83.42. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.44.
A number of research analysts recently weighed in on the company. Wells Fargo & Co boosted their target price on Prologis from $84.00 to $91.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. ValuEngine downgraded Prologis from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada set a $96.00 price target on shares of Prologis and gave the company a “buy” rating in a research report on Friday, October 18th. BMO Capital Markets reissued a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Prologis in a research report on Wednesday, November 6th. Finally, SunTrust Banks boosted their price objective on shares of Prologis from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Prologis currently has a consensus rating of “Buy” and a consensus target price of $88.58.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 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 768 million square feet (71 million square meters) in 19 countries.
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