Waterfront Capital Partners LLC Purchases New Holdings in Prologis Inc (PLD)

Waterfront Capital Partners LLC purchased a new stake in Prologis Inc (NYSE:PLD) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 129,205 shares of the real estate investment trust’s stock, valued at approximately $8,759,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning grew its holdings in Prologis by 19.3% during the second quarter. Creative Planning now owns 6,441 shares of the real estate investment trust’s stock worth $423,000 after acquiring an additional 1,043 shares during the period. Acadian Asset Management LLC acquired a new stake in Prologis during the second quarter worth about $1,071,000. Fort Washington Investment Advisors Inc. OH grew its holdings in Prologis by 13.9% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 29,511 shares of the real estate investment trust’s stock worth $1,939,000 after acquiring an additional 3,600 shares during the period. Pegasus Partners Ltd. grew its holdings in Prologis by 12.0% during the second quarter. Pegasus Partners Ltd. now owns 25,930 shares of the real estate investment trust’s stock worth $1,703,000 after acquiring an additional 2,768 shares during the period. Finally, Piedmont Investment Advisors LLC grew its holdings in Prologis by 191.3% during the second quarter. Piedmont Investment Advisors LLC now owns 168,063 shares of the real estate investment trust’s stock worth $11,040,000 after acquiring an additional 110,368 shares during the period. Hedge funds and other institutional investors own 89.25% of the company’s stock.

In related news, insider Edward S. Nekritz sold 18,099 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $67.66, for a total value of $1,224,578.34. Following the completion of the sale, the insider now owns 106,102 shares of the company’s stock, valued at $7,178,861.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Irving F. Lyons III sold 4,808 shares of the stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $67.45, for a total value of $324,299.60. Following the completion of the sale, the director now directly owns 9,863 shares of the company’s stock, valued at approximately $665,259.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,907 shares of company stock worth $3,565,328. Company insiders own 1.32% of the company’s stock.

NYSE PLD opened at $66.96 on Monday. The company has a market capitalization of $42.15 billion, a PE ratio of 23.83, a PEG ratio of 4.41 and a beta of 0.71. Prologis Inc has a 1-year low of $58.28 and a 1-year high of $68.20. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.44.

Prologis (NYSE:PLD) last released its earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The business had revenue of $611.00 million for the quarter, compared to the consensus estimate of $582.23 million. Prologis had a return on equity of 6.65% and a net margin of 51.66%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 earnings per share. On average, research analysts predict that Prologis Inc will post 3.02 earnings per share for the current fiscal year.

Several analysts recently commented on PLD shares. BTIG Research set a $73.00 target price on Prologis and gave the stock a “buy” rating in a report on Thursday, August 23rd. JPMorgan Chase & Co. set a $72.00 target price on Prologis and gave the stock a “buy” rating in a report on Thursday, August 23rd. SunTrust Banks set a $70.00 price target on Prologis and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, September 12th. Finally, Bank of America increased their price target on Prologis from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, September 10th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Prologis has a consensus rating of “Buy” and a consensus price target of $71.93.

TRADEMARK VIOLATION WARNING: “Waterfront Capital Partners LLC Purchases New Holdings in Prologis Inc (PLD)” was first published by Transcript Daily and is the property of of Transcript Daily. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://transcriptdaily.com/2018/11/26/waterfront-capital-partners-llc-purchases-new-holdings-in-prologis-inc-pld.html.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 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 771 million square feet (72 million square meters) in 19 countries.

Featured Article: Stock Split

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).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply