Municipal Employees Retirement System of Michigan lowered its stake in Prologis, Inc. (NYSE:PLD) by 11.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,120 shares of the real estate investment trust’s stock after selling 3,230 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Prologis were worth $1,658,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. grew its stake in Prologis by 0.6% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 8,929 shares of the real estate investment trust’s stock valued at $524,000 after purchasing an additional 52 shares in the last quarter. Creative Planning lifted its holdings in Prologis by 3.4% during the 2nd quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 69 shares during the last quarter. National Asset Management Inc. lifted its holdings in Prologis by 1.5% during the 2nd quarter. National Asset Management Inc. now owns 5,137 shares of the real estate investment trust’s stock worth $302,000 after buying an additional 75 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Prologis by 0.5% in the 2nd quarter. LS Investment Advisors LLC now owns 15,478 shares of the real estate investment trust’s stock worth $908,000 after purchasing an additional 76 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Prologis by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,399 shares of the real estate investment trust’s stock valued at $2,310,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Several equities analysts have recently issued reports on the company. Evercore ISI reiterated an “outperform” rating and set a $64.00 price target (up from $61.00) on shares of Prologis in a research report on Friday, July 21st. Jefferies Group LLC reiterated a “hold” rating and set a $66.00 price target (up from $59.00) on shares of Prologis in a research report on Thursday, August 24th. BidaskClub upgraded Prologis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $61.00 target price (up previously from $59.00) on shares of Prologis in a research report on Monday, July 24th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $65.50.

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Prologis, Inc. (NYSE PLD) opened at $67.05 on Friday. Prologis, Inc. has a one year low of $46.33 and a one year high of $67.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $34,899.25, a PE ratio of 23.68, a PEG ratio of 4.40 and a beta of 0.92.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The business had revenue of $531.18 million during the quarter, compared to the consensus estimate of $573.68 million. During the same period last year, the business posted $0.14 EPS. Prologis’s revenue was down 5.2% on a year-over-year basis. research analysts anticipate that Prologis, Inc. will post 2.8 earnings per share for the current year.

About Prologis

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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