Independent Order of Foresters lowered its stake in Prologis, Inc. (NYSE:PLD) by 14.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,423 shares of the real estate investment trust’s stock after selling 4,000 shares during the period. Prologis accounts for approximately 1.2% of Independent Order of Foresters’ holdings, making the stock its 22nd largest position. Independent Order of Foresters’ holdings in Prologis were worth $1,432,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisor Partners LLC raised its position in Prologis by 18.4% in the second quarter. Advisor Partners LLC now owns 7,506 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 1,168 shares during the period. IFP Advisors Inc raised its position in Prologis by 40.7% in 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. Candriam Luxembourg S.C.A. raised its position in Prologis by 6.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 39,714 shares of the real estate investment trust’s stock valued at $2,329,000 after buying an additional 2,290 shares during the period. YHB Investment Advisors Inc. raised its position in Prologis by 23.8% in the second quarter. YHB Investment Advisors Inc. now owns 21,450 shares of the real estate investment trust’s stock valued at $1,258,000 after buying an additional 4,120 shares during the period. Finally, Sei Investments Co. raised its position in Prologis by 4.4% in the second quarter. Sei Investments Co. now owns 1,400,883 shares of the real estate investment trust’s stock valued at $82,147,000 after buying an additional 58,852 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Prologis, Inc. (NYSE PLD) opened at 60.65 on Tuesday. The firm has a market cap of $32.26 billion, a P/E ratio of 27.22 and a beta of 0.94. Prologis, Inc. has a 1-year low of $45.93 and a 1-year high of $61.81. The firm’s 50-day moving average price is $58.87 and its 200-day moving average price is $54.22.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.06. The company had revenue of $766.18 million during 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%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. Equities research analysts anticipate that Prologis, Inc. will post ($0.27) earnings per share for the current fiscal year.

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Several research analysts have recently weighed in on PLD shares. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Friday, April 21st. Citigroup Inc. lifted their price objective on Prologis from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 25th. Jefferies Group LLC reissued a “hold” rating and issued a $60.00 price objective (up from $54.00) on shares of Prologis in a research report on Sunday, June 25th. Bank of America Corporation raised Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $58.00 to $65.00 in a research report on Friday, June 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 target price on shares of Prologis in a research report on Thursday, July 6th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Prologis has an average rating of “Buy” and a consensus target price of $59.60.

In related news, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the completion of the sale, the director now owns 66,078 shares of the company’s stock, valued at $4,055,867.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hamid R. Moghadam sold 14,067 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $56.00, for a total transaction of $787,752.00. Following the sale, the chief executive officer now directly owns 3,267 shares of the company’s stock, valued at approximately $182,952. The disclosure for this sale can be found here. Insiders have sold 483,807 shares of company stock valued at $27,400,851 in the last three months. 1.31% of the stock is owned by insiders.

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.

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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