Comerica Securities Inc. grew its position in Prologis Inc (NYSE:PLD) by 58.0% in the fourth quarter, Holdings Channel reports. The fund owned 6,659 shares of the real estate investment trust’s stock after buying an additional 2,445 shares during the quarter. Comerica Securities Inc.’s holdings in Prologis were worth $391,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Clean Yield Group bought a new position in Prologis in the 4th quarter worth approximately $31,000. Benjamin F. Edwards & Company Inc. raised its position in Prologis by 134.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. Evolution Wealth Advisors LLC bought a new position in Prologis in the 4th quarter worth approximately $35,000. Gradient Investments LLC raised its position in Prologis by 43.8% in the 4th quarter. Gradient Investments LLC now owns 965 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 294 shares during the last quarter. Finally, Focused Wealth Management Inc bought a new position in Prologis in the 4th quarter worth approximately $70,000. Institutional investors own 95.80% of the company’s stock.
In other news, Director William D. Zollars sold 1,610 shares of the business’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $61.53, for a total value of $99,063.30. Following the completion of the transaction, the director now owns 9,880 shares of the company’s stock, valued at approximately $607,916.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward S. Nekritz sold 32,499 shares of the business’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $68.32, for a total transaction of $2,220,331.68. Following the completion of the transaction, the insider now directly owns 91,158 shares of the company’s stock, valued at approximately $6,227,914.56. The disclosure for this sale can be found here. Insiders sold a total of 82,489 shares of company stock valued at $5,702,776 in the last three months. 1.32% of the stock is owned by company insiders.
Several research analysts recently weighed in on PLD shares. Deutsche Bank upgraded shares of Prologis from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $72.00 in a research report on Tuesday, December 18th. ValuEngine upgraded shares of Prologis from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research cut shares of Prologis from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, Wells Fargo & Co set a $65.00 target price on shares of Prologis and gave the stock a “market perform” rating in a report on Wednesday, January 16th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $71.92.
PLD opened at $70.82 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.23 and a quick ratio of 0.32. Prologis Inc has a 52 week low of $55.21 and a 52 week high of $71.29. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 4.33 and a beta of 1.03.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, January 22nd. The real estate investment trust reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Prologis had a net margin of 58.81% and a return on equity of 7.45%. The firm had revenue of $679.20 million during the quarter, compared to analyst estimates of $661.64 million. During the same quarter in the previous year, the business earned $0.55 EPS. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. Equities analysts expect that Prologis Inc will post 3.16 EPS for the current year.
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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.
Further Reading: Asset Allocation, Balancing Your Investments
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