November 10, 2019 at 8:47 pm

Prologis Inc (NYSE:PLD) Shares Purchased by Gamco Investors INC. ET AL

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Gamco Investors INC. ET AL increased its stake in shares of Prologis Inc (NYSE:PLD) by 80.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,000 shares of the real estate investment trust’s stock after purchasing an additional 12,000 shares during the period. Gamco Investors INC. ET AL’s holdings in Prologis were worth $2,301,000 as of its most recent SEC filing.

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Several other institutional investors also recently modified their holdings of PLD. Nuveen Asset Management LLC raised its position in shares of Prologis by 320.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,862,940 shares of the real estate investment trust’s stock worth $790,021,000 after purchasing an additional 7,514,715 shares during the last quarter. Invesco Ltd. raised its position in shares of Prologis by 52.6% during the 2nd quarter. Invesco Ltd. now owns 16,686,890 shares of the real estate investment trust’s stock worth $1,336,620,000 after purchasing an additional 5,752,196 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Prologis by 22.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,391,209 shares of the real estate investment trust’s stock worth $1,633,336,000 after purchasing an additional 3,763,203 shares during the last quarter. Bahl & Gaynor Inc. raised its position in shares of Prologis by 2,834.2% during the 2nd quarter. Bahl & Gaynor Inc. now owns 702,506 shares of the real estate investment trust’s stock worth $56,271,000 after purchasing an additional 678,564 shares during the last quarter. Finally, Artemis Investment Management LLP grew its stake in Prologis by 58.7% in the 2nd quarter. Artemis Investment Management LLP now owns 1,438,235 shares of the real estate investment trust’s stock worth $114,944,000 after acquiring an additional 531,932 shares during the period. Hedge funds and other institutional investors own 95.64% of the company’s stock.

Several analysts have commented on the stock. Citigroup lifted their target price on shares of Prologis from $86.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. SunTrust Banks lifted their target price on shares of Prologis from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Co lifted their target price on shares of Prologis from $84.00 to $91.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. Barclays set a $92.00 target price on shares of Prologis and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, ValuEngine cut shares of Prologis from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $88.58.

Shares of NYSE PLD traded down $0.19 during trading on Friday, hitting $87.07. 1,919,897 shares of the company traded hands, compared to its average volume of 2,394,095. Prologis Inc has a 1 year low of $55.21 and a 1 year high of $92.49. The company has a 50-day moving average price of $87.04 and a 200-day moving average price of $81.66. The firm has a market capitalization of $54.27 billion, a P/E ratio of 28.74, a P/E/G ratio of 4.52 and a beta of 0.99. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.44.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.23. Prologis had a net margin of 53.87% and a return on equity of 6.92%. The company 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 company earned $0.72 EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts predict that Prologis Inc will post 3.31 EPS for the current fiscal year.

Prologis Profile

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: What are Institutional Investors?

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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