Levin Capital Strategies L.P. Acquires New Stake in Prologis Inc (PLD)

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Levin Capital Strategies L.P. acquired a new position in Prologis Inc (NYSE:PLD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,000 shares of the real estate investment trust’s stock, valued at approximately $646,000.

Several other institutional investors have also recently modified their holdings of PLD. Vanguard Group Inc raised its position in shares of Prologis by 17.4% in the third quarter. Vanguard Group Inc now owns 81,760,597 shares of the real estate investment trust’s stock worth $5,542,552,000 after acquiring an additional 12,095,509 shares during the period. Vanguard Group Inc. raised its position in shares of Prologis by 17.4% in the third quarter. Vanguard Group Inc. now owns 81,760,597 shares of the real estate investment trust’s stock worth $5,542,552,000 after acquiring an additional 12,095,509 shares during the period. JPMorgan Chase & Co. raised its position in shares of Prologis by 118.2% in the third quarter. JPMorgan Chase & Co. now owns 17,082,538 shares of the real estate investment trust’s stock worth $1,158,026,000 after acquiring an additional 9,255,117 shares during the period. BlackRock Inc. raised its position in shares of Prologis by 13.9% in the third quarter. BlackRock Inc. now owns 65,329,786 shares of the real estate investment trust’s stock worth $4,428,704,000 after acquiring an additional 7,959,713 shares during the period. Finally, OppenheimerFunds Inc. raised its position in shares of Prologis by 257.1% in the third quarter. OppenheimerFunds Inc. now owns 6,857,378 shares of the real estate investment trust’s stock worth $464,862,000 after acquiring an additional 4,937,109 shares during the period. Institutional investors and hedge funds own 95.80% of the company’s stock.

In related news, Director William D. Zollars sold 1,610 shares of the company’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $61.53, for a total transaction of $99,063.30. Following the completion of the sale, the director now owns 9,880 shares of the company’s stock, valued at approximately $607,916.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Philip L. Hawkins sold 15,000 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $68.20, for a total transaction of $1,023,000.00. Following the completion of the sale, the director now directly owns 44,511 shares of the company’s stock, valued at approximately $3,035,650.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,489 shares of company stock valued at $4,352,446. 1.32% of the stock is owned by corporate insiders.

Shares of NYSE PLD opened at $71.04 on Tuesday. Prologis Inc has a 12-month low of $55.21 and a 12-month high of $71.29. The stock has a market cap of $44.59 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 4.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.23 and a quick ratio of 0.32.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, January 22nd. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. Prologis had a net margin of 58.81% and a return on equity of 7.45%. The company had revenue of $679.20 million during the quarter, compared to analysts’ expectations of $661.64 million. During the same quarter in the prior year, the company earned $0.55 EPS. Prologis’s revenue was up 23.3% compared to the same quarter last year. As a group, equities analysts forecast that Prologis Inc will post 3.16 earnings per share for the current year.

A number of brokerages have weighed in on PLD. Wells Fargo & Co set a $65.00 price objective on shares of Prologis and gave the stock a “market perform” rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. ValuEngine upgraded shares of Prologis from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. Deutsche Bank upgraded shares of Prologis from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $72.00 in a research report on Tuesday, December 18th. Zacks Investment Research downgraded shares of Prologis from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, BMO Capital Markets restated a “buy” rating and set a $70.00 price target on shares of Prologis in a research report on Tuesday, October 16th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Prologis currently has an average rating of “Buy” and an average price target of $71.92.

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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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