Prologis, Inc. (NYSE:PLD) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC decreased its holdings in Prologis, Inc. (NYSE:PLD) by 0.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,615 shares of the real estate investment trust’s stock after selling 109 shares during the quarter. Apollon Wealth Management LLC’s holdings in Prologis were worth $1,978,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new stake in Prologis during the 1st quarter worth about $26,000. True Wealth Design LLC acquired a new stake in Prologis during the 4th quarter worth about $27,000. Central Valley Advisors LLC acquired a new stake in Prologis during the 2nd quarter worth about $29,000. JFS Wealth Advisors LLC lifted its position in Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the period. Finally, Clear Investment Research LLC lifted its position in Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Mizuho reduced their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Barclays lifted their price objective on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. reduced their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Seven investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.81.

Prologis Price Performance

PLD stock traded up $1.87 during trading on Monday, hitting $124.72. The stock had a trading volume of 1,664,608 shares, compared to its average volume of 3,696,798. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market capitalization of $115.47 billion, a P/E ratio of 36.45, a PEG ratio of 3.02 and a beta of 1.06. The company’s 50-day moving average price is $117.88 and its two-hundred day moving average price is $119.29.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) 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 firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm posted $1.83 earnings per share. The company’s quarterly revenue was down 18.1% on a year-over-year basis. As a group, research analysts predict that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

About Prologis

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.