Tyche Wealth Partners LLC Buys New Stake in Prologis, Inc. (NYSE:PLD)

Tyche Wealth Partners LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,969 shares of the real estate investment trust’s stock, valued at approximately $221,000.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in Prologis by 380.0% during the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after acquiring an additional 263,649 shares in the last quarter. Janney Capital Management LLC boosted its stake in shares of Prologis by 18.8% in the fourth quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock valued at $3,182,000 after purchasing an additional 3,773 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after purchasing an additional 43,235 shares in the last quarter. Atalanta Sosnoff Capital LLC acquired a new stake in Prologis during the 4th quarter valued at $18,551,000. Finally, US Bancorp DE increased its stake in Prologis by 6.5% during the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after buying an additional 41,469 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of Prologis stock traded down $1.92 on Friday, reaching $122.85. 2,899,167 shares of the company were exchanged, compared to its average volume of 3,709,659. The firm has a market cap of $113.74 billion, a price-to-earnings ratio of 35.92, a P/E/G ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. The company’s 50-day moving average is $117.88 and its two-hundred day moving average is $119.34.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial increased their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Scotiabank upped their price target on shares of Prologis from $130.00 to $135.00 and gave the company a “sector outperform” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.81.

Prologis Company 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.