Synovus Financial Corp raised its holdings in Prologis Inc (NYSE:PLD) by 8.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,019 shares of the real estate investment trust’s stock after purchasing an additional 697 shares during the quarter. Synovus Financial Corp’s holdings in Prologis were worth $769,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. IFM Investors Pty Ltd raised its position in Prologis by 53.8% in the third quarter. IFM Investors Pty Ltd now owns 67,955 shares of the real estate investment trust’s stock valued at $5,791,000 after purchasing an additional 23,757 shares during the period. American Assets Capital Advisers LLC raised its position in Prologis by 986.4% in the third quarter. American Assets Capital Advisers LLC now owns 80,000 shares of the real estate investment trust’s stock valued at $6,818,000 after purchasing an additional 72,636 shares during the period. RiverFront Investment Group LLC purchased a new stake in Prologis in the third quarter valued at $9,486,000. Sandy Spring Bank purchased a new stake in Prologis in the third quarter valued at $33,000. Finally, Russell Investments Group Ltd. raised its position in Prologis by 5.6% in the third quarter. Russell Investments Group Ltd. now owns 2,775,693 shares of the real estate investment trust’s stock valued at $237,164,000 after purchasing an additional 148,355 shares during the period. Institutional investors own 95.64% of the company’s stock.
Shares of NYSE PLD opened at $87.07 on Friday. Prologis Inc has a twelve month low of $55.21 and a twelve month high of $92.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $87.04 and a 200-day simple moving average of $81.66. The stock has a market capitalization of $54.27 billion, a PE ratio of 28.74, a PEG ratio of 4.52 and a beta of 0.99.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.23. Prologis had a return on equity of 6.92% and a net margin of 53.87%. The business had revenue of $712.00 million during the quarter, compared to analysts’ expectations of $715.40 million. During the same period in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts predict that Prologis Inc will post 3.31 earnings per share for the current year.
A number of equities research analysts have commented on the company. BMO Capital Markets restated a “buy” rating and issued a $95.00 target price (up previously from $85.00) on shares of Prologis in a research report on Wednesday. Wells Fargo & Co lifted their target price on Prologis from $84.00 to $91.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. Deutsche Bank lifted their target price on Prologis from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating in a research report on Wednesday. Finally, SunTrust Banks lifted their target price on Prologis from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Prologis currently has an average rating of “Buy” and an average price target 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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