Courier Capital LLC Sells 764 Shares of Prologis, Inc. (NYSE:PLD)

Courier Capital LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 23.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,502 shares of the real estate investment trust’s stock after selling 764 shares during the quarter. Courier Capital LLC’s holdings in Prologis were worth $262,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP bought a new stake in Prologis in the 1st quarter worth about $57,000. Morgan Stanley raised its stake in shares of Prologis by 9.1% during the 1st quarter. Morgan Stanley now owns 4,926,488 shares of the real estate investment trust’s stock worth $395,942,000 after purchasing an additional 411,389 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Prologis by 17.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,687 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 247 shares during the last quarter. Belpointe Asset Management LLC grew its position in Prologis by 14.7% during the second quarter. Belpointe Asset Management LLC now owns 4,173 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 534 shares during the period. Finally, Capital Investment Advisors LLC purchased a new stake in Prologis during the second quarter worth about $683,000. Institutional investors and hedge funds own 94.75% of the company’s stock.

Shares of NYSE:PLD opened at $104.20 on Wednesday. The firm has a market capitalization of $77.03 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 3.60 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.48. Prologis, Inc. has a 52-week low of $59.82 and a 52-week high of $112.37. The firm has a fifty day moving average of $103.24 and a 200 day moving average of $97.96.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 20th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.48). The firm had revenue of $984.00 million during the quarter, compared to analysts’ expectations of $955.32 million. Prologis had a return on equity of 5.55% and a net margin of 43.27%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. On average, sell-side analysts forecast that Prologis, Inc. will post 3.7 EPS for the current fiscal year.

A number of research firms have weighed in on PLD. The Goldman Sachs Group began coverage on shares of Prologis in a research note on Tuesday, September 29th. They issued a “buy” rating on the stock. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating and set a $111.00 price objective for the company. in a report on Thursday, October 8th. Wells Fargo & Company raised their target price on Prologis from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. UBS Group began coverage on Prologis in a research report on Friday, October 16th. They set a “buy” rating and a $126.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on Prologis from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $106.67.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high growth markets. As of March 31, 2020, 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 965 million square feet (90 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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