State of Wisconsin Investment Board increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 26.6% during the second quarter, Holdings Channel reports. The institutional investor owned 667,946 shares of the real estate investment trust’s stock after buying an additional 140,330 shares during the period. State of Wisconsin Investment Board’s holdings in Prologis were worth $39,168,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PLD. Candriam Luxembourg S.C.A. raised its stake in Prologis by 19.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 37,424 shares of the real estate investment trust’s stock worth $1,942,000 after buying an additional 6,223 shares in the last quarter. Retirement Systems of Alabama raised its stake in Prologis by 1.0% in the first quarter. Retirement Systems of Alabama now owns 545,077 shares of the real estate investment trust’s stock worth $28,279,000 after buying an additional 5,329 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Prologis by 32.7% in the first quarter. State of Alaska Department of Revenue now owns 254,316 shares of the real estate investment trust’s stock worth $13,193,000 after buying an additional 62,719 shares in the last quarter. Lederer & Associates Investment Counsel CA raised its stake in Prologis by 30.1% in the first quarter. Lederer & Associates Investment Counsel CA now owns 6,050 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 1,400 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Prologis during the first quarter worth $744,000. Hedge funds and other institutional investors own 95.57% of the company’s stock.

Shares of Prologis, Inc. (NYSE PLD) opened at 61.89 on Wednesday. The firm has a 50-day moving average of $59.65 and a 200-day moving average of $54.85. The company has a market cap of $32.92 billion, a price-to-earnings ratio of 27.78 and a beta of 0.94. Prologis, Inc. has a one year low of $45.93 and a one year high of $61.93.

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

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A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Prologis from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 30th. Royal Bank Of Canada restated a “buy” rating and issued a $59.00 target price on shares of Prologis in a report 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. increased 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 increased their price objective for the company from $58.00 to $65.00 in a research note on Friday, June 23rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $59.60.

In other news, CEO Hamid R. Moghadam sold 14,067 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $56.00, for a total value of $787,752.00. Following the sale, the chief executive officer now owns 3,267 shares of the company’s stock, valued at $182,952. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hamid R. Moghadam sold 271,788 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $56.04, for a total transaction of $15,230,999.52. Following the completion of the sale, the chief executive officer now directly owns 36,997 shares in the company, valued at approximately $2,073,311.88. The disclosure for this sale can be found here. In the last three months, insiders sold 458,807 shares of company stock worth $26,018,101. Insiders own 1.31% of the company’s stock.

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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