New Mexico Educational Retirement Board Has $7.42 Million Stake in Prologis, Inc. (NYSE:PLD)

New Mexico Educational Retirement Board lowered its stake in Prologis, Inc. (NYSE:PLD) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,965 shares of the real estate investment trust’s stock after selling 4,900 shares during the period. New Mexico Educational Retirement Board’s holdings in Prologis were worth $7,417,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning raised its stake in 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 in the last quarter. Guardian Life Insurance Co. of America raised its stake in 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 in the last quarter. IFP Advisors Inc raised its stake in 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 in the last quarter. Solaris Asset Management LLC raised its stake in 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 in the last quarter. Finally, Independent Portfolio Consultants Inc. raised its stake in 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 in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Shares of Prologis, Inc. (NYSE PLD) opened at 60.74 on Thursday. Prologis, Inc. has a 52-week low of $45.93 and a 52-week high of $61.81. The firm has a market cap of $32.31 billion, a P/E ratio of 27.26 and a beta of 0.94. The company has a 50-day moving average of $59.38 and a 200 day moving average of $54.56.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The business had revenue of $766.18 million during the quarter, compared to the consensus estimate of $576 million. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities analysts expect that Prologis, Inc. will post ($0.27) earnings per share for the current year.

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Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their price objective 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. Royal Bank Of Canada reiterated a “buy” rating and issued a $59.00 price objective on shares of Prologis in a research note on Thursday, June 8th. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, June 14th. Citigroup Inc. lifted their price objective on shares of Prologis from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, April 25th. Finally, Bank of America Corporation upgraded shares of Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $65.00 in a research note on Friday, June 23rd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $59.60.

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

Prologis Company Profile

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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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