Cambridge Investment Research Advisors Inc. Increases Position in Prologis Inc (NYSE:PLD)

Cambridge Investment Research Advisors Inc. lifted its position in shares of Prologis Inc (NYSE:PLD) by 29.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,355 shares of the real estate investment trust’s stock after buying an additional 7,291 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Prologis were worth $3,020,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in Prologis by 13.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 536,598 shares of the real estate investment trust’s stock valued at $50,081,000 after purchasing an additional 64,117 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in Prologis by 7.1% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 131,961 shares of the real estate investment trust’s stock valued at $12,316,000 after buying an additional 8,744 shares in the last quarter. MAI Capital Management bought a new stake in shares of Prologis during the second quarter valued at approximately $248,000. Tufton Capital Management purchased a new position in shares of Prologis in the second quarter worth $951,000. Finally, Bourgeon Capital Management LLC boosted its position in shares of Prologis by 9.2% during the second quarter. Bourgeon Capital Management LLC now owns 47,836 shares of the real estate investment trust’s stock worth $4,465,000 after acquiring an additional 4,025 shares during the last quarter. 94.79% of the stock is owned by institutional investors.

In related news, Director George L. Fotiades sold 1,339 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $96.38, for a total transaction of $129,052.82. Following the completion of the transaction, the director now owns 22,710 shares in the company, valued at approximately $2,188,789.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.93% of the stock is currently owned by company insiders.

Several analysts have commented on PLD shares. BMO Capital Markets began coverage on shares of Prologis in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $111.00 price target on the stock. Citigroup dropped their price target on Prologis from $105.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Deutsche Bank reduced their price objective on Prologis from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Stifel Nicolaus increased their target price on Prologis from $76.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Finally, Wells Fargo & Co boosted their price target on shares of Prologis from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $98.38.

Prologis stock opened at $105.42 on Friday. Prologis Inc has a 12-month low of $59.82 and a 12-month high of $106.73. The company has a current ratio of 0.48, a quick ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $95.14 and a 200-day moving average price of $89.67. The firm has a market capitalization of $77.88 billion, a PE ratio of 41.18, a price-to-earnings-growth ratio of 3.68 and a beta of 0.94.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.08. The company had revenue of $945.00 million for the quarter, compared to analyst estimates of $921.45 million. Prologis had a net margin of 43.27% and a return on equity of 5.55%. The firm’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 EPS. As a group, sell-side analysts predict that Prologis Inc will post 3.72 earnings per share for the current fiscal year.

About Prologis

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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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