Crossmark Global Holdings Inc. lowered its stake in Prologis Inc (NYSE:PLD) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,996 shares of the real estate investment trust’s stock after selling 367 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Prologis were worth $3,298,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Sandy Spring Bank acquired a new position in Prologis during the third quarter worth approximately $33,000. Covington Capital Management increased its position in Prologis by 57.2% during the third quarter. Covington Capital Management now owns 503 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 183 shares during the last quarter. Marshall Wace LLP acquired a new position in Prologis during the first quarter worth approximately $57,000. Optimum Investment Advisors acquired a new position in Prologis during the third quarter worth approximately $60,000. Finally, Meeder Asset Management Inc. increased its position in Prologis by 22.3% during the third quarter. Meeder Asset Management Inc. now owns 807 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 147 shares during the last quarter. 95.40% of the stock is currently owned by hedge funds and other institutional investors.
Prologis stock opened at $97.55 on Friday. Prologis Inc has a 12 month low of $68.96 and a 12 month high of $97.64. The stock’s 50 day moving average is $92.35 and its 200-day moving average is $87.82. The company has a current ratio of 1.54, a quick ratio of 1.27 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $71.27 billion, a price-to-earnings ratio of 39.49, a PEG ratio of 4.55 and a beta of 1.02.
Prologis (NYSE:PLD) last posted its earnings results on Wednesday, January 22nd. The real estate investment trust reported $0.84 EPS for the quarter, meeting the consensus estimate of $0.84. Prologis had a return on equity of 6.09% and a net margin of 47.23%. The company had revenue of $728.00 million for the quarter, compared to the consensus estimate of $727.32 million. During the same quarter in the prior year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that Prologis Inc will post 3.72 earnings per share for the current fiscal year.
A number of brokerages have weighed in on PLD. Royal Bank of Canada set a $96.00 price target on Prologis and gave the stock a “buy” rating in a research report on Friday, October 18th. SunTrust Banks boosted their price target on Prologis from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. BTIG Research boosted their price target on Prologis from to and gave the stock a “buy” rating in a research report on Monday, January 6th. Edward Jones downgraded Prologis from a “buy” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, Morgan Stanley began coverage on Prologis in a research report on Wednesday. They set an “overweight” rating and a $100.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Prologis has an average rating of “Buy” and an average price target of $96.79.
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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