Cbre Clarion Securities Lowers stake in Prologis Inc (PLD)

Prologis Inc (PLD) : Cbre Clarion Securities reduced its stake in Prologis Inc by 10.37% during the most recent quarter end. The investment management company now holds a total of 10,132,912 shares of Prologis Inc which is valued at $550,723,767 after selling 1,172,714 shares in Prologis Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Prologis Inc makes up approximately 4.25% of Cbre Clarion Securities’s portfolio.

Other Hedge Funds, Including , Apg Asset Management N.v. reduced its stake in PLD by selling 107,223 shares or 37.56% in the most recent quarter. The Hedge Fund company now holds 178,231 shares of PLD which is valued at $9,686,855. Prologis Inc makes up approx 0.02% of Apg Asset Management N.v.’s portfolio.Smithfield Trust Co reduced its stake in PLD by selling 128 shares or 2.3% in the most recent quarter. The Hedge Fund company now holds 5,440 shares of PLD which is valued at $296,426. Prologis Inc makes up approx 0.05% of Smithfield Trust Co’s portfolio.Whittier Trust Co reduced its stake in PLD by selling 5,911 shares or 5.18% in the most recent quarter. The Hedge Fund company now holds 108,180 shares of PLD which is valued at $5,894,728. Prologis Inc makes up approx 0.25% of Whittier Trust Co’s portfolio.Highstreet Asset Management reduced its stake in PLD by selling 6,472 shares or 64.73% in the most recent quarter. The Hedge Fund company now holds 3,527 shares of PLD which is valued at $185,414. Prologis Inc makes up approx 0.06% of Highstreet Asset Management’s portfolio.

Prologis Inc opened for trading at $53.85 and hit $54.21 on the upside on Tuesday, eventually ending the session at $53.82, with a gain of 0.41% or 0.22 points. The heightened volatility saw the trading volume jump to 11,79,934 shares. Company has a market cap of $28,361 M.

On the company’s financial health, Prologis Inc reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.59. The company had revenue of $602.00 million for the quarter, compared to analysts expectations of $551.29 million. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Prologis Inc. Company shares were Downgraded by Robert W. Baird on Aug 17, 2016 to ” Neutral”, Firm has raised the Price Target to $ 54 from a previous price target of $52 .Prologis Inc was Downgraded by CapitalOne to ” Underweight” on Aug 8, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $48 .

Prologis Inc. is engaged in industrial logistics real estate focused on markets across the Americas Europe and Asia. The Company leases modern distribution facilities to more than 4700 customers including third-party logistics providers transportation companies retailers and manufacturers. The Company’s business consists of two operating segments: Real Estate Operations and Strategic Capital. The Company’s customer base represents a spectrum of international national regional and local distribution users. As of December 31 2014 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 590 million square feet (55 million square meters) in 21 countries.

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