Trading Report: Today: Prudential Financial Inc. invests in Prologis Inc. (PLD) Shares

Today: Prudential Financial Inc. invests in Prologis Inc. (PLD) Shares

Prudential Financial Inc. raised its position in Prologis Inc. (NYSE:PLD) by 169.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,193,749 shares of the company’s stock after buying an additional 1,378,203 shares during the period. Prudential Financial Inc. owned 0.42% of Prologis worth $117,454,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Prologis by 33.9% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 52,879 shares of the company’s stock worth $2,593,000 after buying an additional 13,400 shares in the last quarter. Sarasin & Partners LLP raised its stake in shares of Prologis by 1.2% in the second quarter. Sarasin & Partners LLP now owns 430,807 shares of the company’s stock worth $21,127,000 after buying an additional 4,929 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Prologis by 5.5% in the second quarter. Capstone Asset Management Co. now owns 54,601 shares of the company’s stock worth $2,678,000 after buying an additional 2,866 shares in the last quarter. Creative Planning raised its stake in shares of Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares in the last quarter. Finally, BKD Wealth Advisors LLC raised its stake in shares of Prologis by 1.1% in the second quarter. BKD Wealth Advisors LLC now owns 6,354 shares of the company’s stock worth $312,000 after buying an additional 68 shares in the last quarter. 99.13% of the stock is owned by hedge funds and other institutional investors.

Shares of Prologis Inc. (NYSE:PLD) opened at 50.75 on Monday. Prologis Inc. has a 52 week low of $35.25 and a 52 week high of $54.87. The stock has a 50 day moving average price of $50.18 and a 200-day moving average price of $50.91. The stock has a market cap of $26.83 billion, a P/E ratio of 30.32 and a beta of 1.15.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. Prologis had a return on equity of 4.86% and a net margin of 34.73%. The company had revenue of $705 million for the quarter, compared to analysts’ expectations of $221.07 million. During the same period last year, the firm earned $0.58 earnings per share. Prologis’s quarterly revenue was up 21.3% on a year-over-year basis. Equities analysts predict that Prologis Inc. will post ($0.27) EPS for the current fiscal year.

A number of equities research analysts have weighed in on the company. Morgan Stanley set a $58.00 target price on Prologis and gave the company a “buy” rating in a research report on Tuesday, September 6th. Capital One Financial Corp. lowered Prologis from an “equal weight” rating to an “underweight” rating and set a $48.00 target price for the company. in a research report on Monday, August 8th. Wells Fargo & Co. reaffirmed a “neutral” rating on shares of Prologis in a research report on Sunday, September 4th. Robert W. Baird lowered Prologis from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $52.00 to $54.00 in a research report on Wednesday, August 17th. Finally, BTIG Research assumed coverage on Prologis in a research report on Thursday, August 25th. They set a “buy” rating and a $60.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $51.36.

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