The Manning & Napier Advisors LLC Sells 3,935 Shares of Prologis, Inc. (PLD)

The Manning & Napier Advisors LLC Sells 3,935 Shares of Prologis, Inc. (PLD)

A number of other large investors have also modified their holdings of PLD. Gulf International Bank UK Ltd raised its position in Prologis by 2.9% in the first quarter. Gulf International Bank UK Ltd now owns 162,458 shares of the real estate investment trust’s stock worth $8,428,000 after buying an additional 4,600 shares in the last quarter. Creative Planning raised its position 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 worth $104,000 after buying an additional 234 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Prologis by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 456,324 shares of the real estate investment trust’s stock worth $23,674,000 after buying an additional 14,610 shares in the last quarter. Foundry Partners LLC raised its position in shares of Prologis by 45.7% in the first quarter. Foundry Partners LLC now owns 134,100 shares of the real estate investment trust’s stock worth $6,957,000 after buying an additional 42,050 shares in the last quarter. Finally, Pensionfund Sabic raised its position in shares of Prologis by 10.0% in the first quarter. Pensionfund Sabic now owns 33,000 shares of the real estate investment trust’s stock worth $1,712,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Manning & Napier Advisors LLC cut its position in Prologis, Inc. (NYSE:PLD) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,305 shares of the real estate investment trust’s stock after selling 3,935 shares during the period. Manning & Napier Advisors LLC’s holdings in Prologis were worth $9,633,000 at the end of the most recent reporting period.

Prologis, Inc. (PLD) traded down 0.36% on Wednesday, reaching $61.12. 569,923 shares of the company were exchanged. Prologis, Inc. has a 12-month low of $45.93 and a 12-month high of $61.81. The stock has a market capitalization of $32.51 billion, a P/E ratio of 27.43 and a beta of 0.94. The company’s 50-day moving average price is $58.87 and its 200-day moving average price is $54.22.

Prologis (NYSE:PLD) last announced its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The firm had revenue of $766.18 million for the quarter, compared to analysts’ expectations of $576 million. During the same quarter in the previous year, the business posted $0.60 EPS. The company’s quarterly revenue was up 27.2% on a year-over-year basis. Equities research analysts anticipate that Prologis, Inc. will post ($0.27) earnings per share for the current fiscal year.

PLD has been the topic of several research analyst reports. BTIG Research reaffirmed a “buy” rating and set a $57.00 price objective on shares of Prologis in a research note on Tuesday, April 11th. Evercore ISI upped their price objective on shares of Prologis from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Zacks Investment Research cut shares of Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. Citigroup Inc. upped their price objective on shares of Prologis from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus increased their price target on shares of Prologis from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 30th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $59.60.

In other news, insider Edward S. Nekritz sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $55.31, for a total transaction of $1,382,750.00. Following the sale, the insider now owns 199,950 shares in the company, valued at approximately $11,059,234.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl B. Webb sold 20,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the sale, the director now owns 66,078 shares in the company, valued at approximately $4,055,867.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 483,807 shares of company stock worth $27,400,851. Company insiders own 1.31% of the company’s stock.

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.

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