Carl Domino Inc Reduces Stake in Prologis Inc (PLD)

Carl Domino Inc cut its stake in shares of Prologis Inc (NYSE:PLD) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,937 shares of the real estate investment trust’s stock after selling 1,730 shares during the period. Prologis comprises about 2.4% of Carl Domino Inc’s investment portfolio, making the stock its 3rd largest position. Carl Domino Inc’s holdings in Prologis were worth $2,107,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Creative Planning boosted its stake in shares of Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 234 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Prologis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 14 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Prologis by 10.7% in the first quarter. IFP Advisors Inc now owns 2,249 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 218 shares during the last quarter. Solaris Asset Management LLC boosted its stake in shares of Prologis by 1.8% in the first quarter. Solaris Asset Management LLC now owns 2,825 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 50 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its stake in shares of Prologis by 82.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 1,225 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Shares of Prologis Inc (NYSE:PLD) traded down 0.38% on Friday, hitting $59.71. The stock had a trading volume of 1,746,987 shares. The company has a market cap of $31.76 billion, a PE ratio of 26.80 and a beta of 0.94. Prologis Inc has a 52 week low of $45.93 and a 52 week high of $61.81. The stock’s 50-day moving average price is $59.49 and its 200 day moving average price is $54.65.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 7.27% and a net margin of 37.59%. The company had revenue of $766.18 million during the quarter, compared to the consensus estimate of $576 million. During the same period in the previous year, the company posted $0.60 EPS. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, analysts predict that Prologis Inc will post ($0.27) EPS for the current year.

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Several equities research analysts recently commented on PLD shares. Stifel Nicolaus boosted their price target on Prologis from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 30th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Monday, May 22nd. Bank of America Corporation raised Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the company from $58.00 to $65.00 in a research note on Friday, June 23rd. BidaskClub cut Prologis from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $59.00 price target on shares of Prologis in a research note on Thursday, June 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $59.60.

In related news, insider Edward S. Nekritz sold 25,000 shares of Prologis stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $55.31, for a total transaction of $1,382,750.00. Following the completion of the sale, the insider now directly owns 199,950 shares of the company’s stock, valued at approximately $11,059,234.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Hamid R. Moghadam sold 271,788 shares of Prologis stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $56.04, for a total value of $15,230,999.52. Following the sale, the chief executive officer now directly owns 36,997 shares of the company’s stock, valued at $2,073,311.88. The disclosure for this sale can be found here. Insiders have sold a total of 483,807 shares of company stock valued at $27,400,851 over the last quarter. 1.31% of the stock is currently owned by corporate insiders.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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