M&T Bank Corp Increases Holdings in Prologis Inc (NYSE:PLD)

M&T Bank Corp lifted its stake in shares of Prologis Inc (NYSE:PLD) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 96,443 shares of the real estate investment trust’s stock after purchasing an additional 707 shares during the quarter. M&T Bank Corp’s holdings in Prologis were worth $9,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mark Sheptoff Financial Planning LLC increased its position in shares of Prologis by 622.2% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 325 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 280 shares during the period. Hoey Investments Inc. increased its holdings in shares of Prologis by 62.5% in the second quarter. Hoey Investments Inc. now owns 325 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 125 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in shares of Prologis in the first quarter worth $27,000. TCI Wealth Advisors Inc. boosted its stake in Prologis by 64.3% during the first quarter. TCI Wealth Advisors Inc. now owns 340 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 133 shares during the period. Finally, Tarbox Family Office Inc. grew its position in Prologis by 159.8% during the second quarter. Tarbox Family Office Inc. now owns 343 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 211 shares in the last quarter. 94.79% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director George L. Fotiades sold 1,339 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $96.38, for a total value of $129,052.82. Following the completion of the sale, the director now owns 22,710 shares of the company’s stock, valued at $2,188,789.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is owned by corporate insiders.

PLD has been the topic of a number of research reports. Royal Bank of Canada raised their price target on Prologis from $102.00 to $108.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. Jefferies Financial Group lifted their price target on shares of Prologis from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Wells Fargo & Co increased their target price on shares of Prologis from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Finally, BMO Capital Markets began coverage on shares of Prologis in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $111.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $98.38.

Prologis stock opened at $105.42 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm has a market cap of $77.88 billion, a P/E ratio of 41.18, a P/E/G ratio of 3.68 and a beta of 0.94. Prologis Inc has a 1-year low of $59.82 and a 1-year high of $106.73. The firm has a 50-day moving average of $95.14 and a 200-day moving average of $89.67.

Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, July 21st. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.08. The business had revenue of $945.00 million during the quarter, compared to analyst estimates of $921.45 million. Prologis had a return on equity of 5.55% and a net margin of 43.27%. Prologis’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. Research analysts forecast that Prologis Inc will post 3.72 earnings per share 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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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