Blue Trust Inc. Raises Position in Prologis, Inc. (NYSE:PLD)

Blue Trust Inc. boosted its position in Prologis, Inc. (NYSE:PLD) by 28.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 16,610 shares of the real estate investment trust’s stock after purchasing an additional 3,706 shares during the period. Blue Trust Inc.’s holdings in Prologis were worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PLD. Valeo Financial Advisors LLC raised its stake in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares during the period. Norges Bank bought a new stake in Prologis in the 4th quarter valued at about $1,074,648,000. Capital World Investors lifted its holdings in Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after purchasing an additional 6,765,582 shares during the last quarter. Swedbank AB purchased a new stake in Prologis during the first quarter valued at about $596,614,000. Finally, Alphinity Investment Management Pty Ltd bought a new position in Prologis during the first quarter worth about $465,659,000. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PLD shares. Evercore ISI upped their price target on shares of Prologis from $119.00 to $123.00 and gave the company an “in-line” rating in a research note on Thursday, July 18th. The Goldman Sachs Group raised their price target on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Scotiabank boosted their price objective on Prologis from $130.00 to $135.00 and gave the company a “sector outperform” rating in a research note on Wednesday, August 7th. Truist Financial raised their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Robert W. Baird decreased their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.81.

Prologis Price Performance

Shares of NYSE:PLD traded down $1.92 during trading on Friday, reaching $122.85. The company had a trading volume of 2,899,167 shares, compared to its average volume of 3,709,659. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $113.74 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. The company has a fifty day moving average of $117.88 and a two-hundred day moving average of $119.39.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company earned $1.83 EPS. The firm’s revenue was down 18.1% compared to the same quarter last year. Equities research analysts forecast that Prologis, Inc. will post 5.43 earnings per share for the current year.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.