Grassi Investment Management Lowers stake in Prologis Inc (PLD)

Prologis Inc (PLD) : Grassi Investment Management reduced its stake in Prologis Inc by 15.72% during the most recent quarter end. The investment management company now holds a total of 214,380 shares of Prologis Inc which is valued at $10,858,347 after selling 40,000 shares in Prologis Inc , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Prologis Inc makes up approximately 2.01% of Grassi Investment Management’s portfolio.

Other Hedge Funds, Including , Gateway Investment Advisers reduced its stake in PLD by selling 188 shares or 0.46% in the most recent quarter. The Hedge Fund company now holds 40,600 shares of PLD which is valued at $2,056,390. Prologis Inc makes up approx 0.02% of Gateway Investment Advisers’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in PLD in the latest quarter, The investment management firm added 8,221 additional shares and now holds a total of 135,991 shares of Prologis Inc which is valued at $6,738,354. Prologis Inc makes up approx 0.14% of Exxonmobil Investment Management Inc Tx’s portfolio.Raymond James Trust N.a. reduced its stake in PLD by selling 266 shares or 1.02% in the most recent quarter. The Hedge Fund company now holds 25,917 shares of PLD which is valued at $1,284,187. Prologis Inc makes up approx 0.11% of Raymond James Trust N.a.’s portfolio.Next Financial Group Inc boosted its stake in PLD in the latest quarter, The investment management firm added 425 additional shares and now holds a total of 825 shares of Prologis Inc which is valued at $40,879. Prologis Inc makes up approx 0.01% of Next Financial Group Inc’s portfolio.

Prologis Inc opened for trading at $51.07 and hit $51.34 on the upside on Friday, eventually ending the session at $51.33, with a gain of 0.73% or 0.37 points. The heightened volatility saw the trading volume jump to 39,33,700 shares. Company has a market cap of $26,967 M.

On the company’s financial health, Prologis Inc reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $0.59. The company had revenue of $606.30 million for the quarter, compared to analysts expectations of $555.75 million. The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Prologis Inc. UBS Downgraded Prologis Inc on Jul 1, 2016 to ” Neutral”, Price Target of the shares are set at $48.Prologis Inc was Downgraded by SunTrust to ” Neutral” on Jun 30, 2016. Company shares were Downgraded by Deutsche Bank on Jun 21, 2016 to ” Hold”, Firm has raised the Price Target to $ 50 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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