Diam Ltd. Lowers stake in Prologis Inc (PLD)

Prologis Inc (PLD) : Diam Ltd. reduced its stake in Prologis Inc by 9.54% during the most recent quarter end. The investment management company now holds a total of 1,199,282 shares of Prologis Inc which is valued at $64,833,185 after selling 126,541 shares in Prologis Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Prologis Inc makes up approximately 0.93% of Diam Ltd.’s portfolio.

Other Hedge Funds, Including , Cadence Capital Management reduced its stake in PLD by selling 16,849 shares or 40.19% in the most recent quarter. The Hedge Fund company now holds 25,076 shares of PLD which is valued at $1,355,609. Prologis Inc makes up approx 0.10% of Cadence Capital Management’s portfolio.State Of New Jersey Common Pension Fund D boosted its stake in PLD in the latest quarter, The investment management firm added 44,000 additional shares and now holds a total of 746,000 shares of Prologis Inc which is valued at $40,328,760. Prologis Inc makes up approx 0.18% of State Of New Jersey Common Pension Fund D’s portfolio.Tokio Marine Asset Management Co Ltd reduced its stake in PLD by selling 310 shares or 2.02% in the most recent quarter. The Hedge Fund company now holds 15,050 shares of PLD which is valued at $790,426. Prologis Inc makes up approx 0.08% of Tokio Marine Asset Management Co Ltd’s portfolio.Sonora Investment Management reduced its stake in PLD by selling 250 shares or 6.1% in the most recent quarter. The Hedge Fund company now holds 3,850 shares of PLD which is valued at $198,737. Prologis Inc makes up approx 0.11% of Sonora Investment Management’s portfolio. Curian Capital sold out all of its stake in PLD during the most recent quarter. The investment firm sold 12,425 shares of PLD which is valued $615,659.

Prologis Inc closed down -0.37 points or -0.68% at $53.75 with 23,66,690 shares getting traded on Monday. Post opening the session at $53.84, the shares hit an intraday low of $53.59 and an intraday high of $54.08 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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. 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 was Downgraded by Credit Suisse to ” Neutral” on Jul 20, 2016.

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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