Prologis, Inc. (PLD) Stake Lessened by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 764,270 shares of the real estate investment trust’s stock after selling 3,090 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of Prologis worth $48,501,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Creative Planning raised its position in shares of Prologis by 3.4% during the second quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 69 shares during the period. Evercore Wealth Management LLC raised its position in Prologis by 18.2% during the second quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock valued at $134,000 after buying an additional 350 shares during the period. Independent Portfolio Consultants Inc. raised its position in Prologis by 82.0% during 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 during the period. Solaris Asset Management LLC raised its position in Prologis by 11.0% during the second quarter. Solaris Asset Management LLC now owns 3,135 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 310 shares during the period. Finally, IFP Advisors Inc raised its position in Prologis by 40.7% during the second quarter. IFP Advisors Inc now owns 3,164 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 915 shares during the period. 95.88% of the stock is currently owned by institutional investors.

Shares of Prologis, Inc. (NYSE:PLD) traded up $1.27 during mid-day trading on Friday, reaching $66.27. The company’s stock had a trading volume of 2,414,209 shares, compared to its average volume of 2,037,429. The company has a market capitalization of $35.09 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 4.42 and a beta of 0.92. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The firm had revenue of $531.18 million during the quarter, compared to analysts’ expectations of $573.68 million. During the same period in the previous year, the company earned $0.14 earnings per share. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. sell-side analysts forecast that Prologis, Inc. will post 2.8 earnings per share for the current year.

Several research firms recently weighed in on PLD. Citigroup Inc upped their price target on Prologis from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. KeyCorp upped their price target on Prologis from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, October 16th. BMO Capital Markets began coverage on Prologis in a research report on Monday, September 11th. They set an “outperform” rating and a $69.00 price target on the stock. Stifel Nicolaus reissued a “buy” rating and set a $65.00 price target on shares of Prologis in a research report on Thursday, September 21st. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $68.00 price target on shares of Prologis in a research report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.80.

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Prologis 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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