Barings LLC Has $82.90 Million Position in Prologis Inc (PLD)

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Barings LLC cut its holdings in shares of Prologis Inc (NYSE:PLD) by 22.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,222,847 shares of the real estate investment trust’s stock after selling 361,192 shares during the period. Prologis comprises approximately 1.2% of Barings LLC’s investment portfolio, making the stock its 7th biggest position. Barings LLC owned 0.19% of Prologis worth $82,896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Creative Planning grew its holdings in Prologis by 14.4% during the 3rd quarter. Creative Planning now owns 7,368 shares of the real estate investment trust’s stock worth $499,000 after acquiring an additional 927 shares during the period. Bourgeon Capital Management LLC grew its holdings in Prologis by 1.9% during the 2nd quarter. Bourgeon Capital Management LLC now owns 52,950 shares of the real estate investment trust’s stock worth $3,478,000 after acquiring an additional 970 shares during the period. Advisors Preferred LLC grew its holdings in Prologis by 141.1% during the 2nd quarter. Advisors Preferred LLC now owns 1,685 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 986 shares during the period. State Treasurer State of Michigan grew its holdings in Prologis by 0.6% during the 2nd quarter. State Treasurer State of Michigan now owns 157,917 shares of the real estate investment trust’s stock worth $10,374,000 after acquiring an additional 1,000 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Prologis by 0.7% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 158,953 shares of the real estate investment trust’s stock worth $10,442,000 after acquiring an additional 1,032 shares during the period. Hedge funds and other institutional investors own 81.94% of the company’s stock.

Shares of PLD stock opened at $67.31 on Friday. 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 Inc has a 1 year low of $58.28 and a 1 year high of $68.20. The firm has a market cap of $42.37 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 4.43 and a beta of 0.71.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $611.00 million for the quarter, compared to analysts’ expectations of $582.23 million. Prologis had a net margin of 51.66% and a return on equity of 6.65%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.63 EPS. As a group, sell-side analysts expect that Prologis Inc will post 3.02 EPS for the current fiscal year.

Several brokerages have recently commented on PLD. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Bank of America raised their target price on Prologis from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Barclays raised their target price on Prologis from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, August 2nd. SunTrust Banks set a $70.00 price target on Prologis and gave the company a “buy” rating in a research note on Tuesday, August 7th. Finally, ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Prologis currently has a consensus rating of “Buy” and an average target price of $71.93.

In other news, Director Philip L. Hawkins sold 15,000 shares of the business’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $67.23, for a total transaction of $1,008,450.00. Following the completion of the transaction, the director now directly owns 69,511 shares in the company, valued at approximately $4,673,224.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Irving F. Lyons III sold 4,808 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $67.45, for a total transaction of $324,299.60. Following the completion of the transaction, the director now owns 9,863 shares of the company’s stock, valued at $665,259.35. The disclosure for this sale can be found here. Insiders have sold a total of 52,907 shares of company stock valued at $3,565,328 over the last 90 days. Company insiders own 1.31% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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