Lenox Wealth Management Inc. Cuts Position in Prologis Inc (NYSE:PLD)

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Lenox Wealth Management Inc. lessened its position in shares of Prologis Inc (NYSE:PLD) by 4.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,037 shares of the real estate investment trust’s stock after selling 173 shares during the quarter. Lenox Wealth Management Inc.’s holdings in Prologis were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Nuveen Asset Management LLC grew its holdings in 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 valued at $790,021,000 after buying an additional 7,514,715 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Prologis by 52.6% in 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 period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Prologis by 22.6% in 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 period. Bahl & Gaynor Inc. boosted its holdings in shares of Prologis by 2,834.2% in 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 period. Finally, Artemis Investment Management LLP boosted its holdings in shares of 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 purchasing an additional 531,932 shares during the period. Institutional investors and hedge funds own 95.64% of the company’s stock.

Shares of PLD stock traded down $0.19 on Friday, reaching $87.07. 1,919,897 shares of the company’s stock were exchanged, compared to its average volume of 2,394,095. Prologis Inc has a 52 week low of $55.21 and a 52 week 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 market capitalization of $54.27 billion, a PE ratio of 28.74, a P/E/G ratio of 4.52 and a beta of 0.99. The company’s fifty day simple moving average is $87.04 and its 200 day simple moving average is $81.66.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $712.00 million during the quarter, compared to analyst estimates of $715.40 million. During the same period last year, the company earned $0.72 EPS. Prologis’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, sell-side analysts predict that Prologis Inc will post 3.31 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on the company. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating in a report on Wednesday. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 target price (up previously from $85.00) on shares of Prologis in a report on Wednesday. Stifel Nicolaus set a $95.00 target price on Prologis and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup lifted their target price on Prologis from $86.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank lifted their target price on Prologis from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Prologis presently has an average rating of “Buy” and a consensus target price of $88.58.

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: How is Preferred Stock Different from Common Stock?

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)

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