Clear Creek Financial Management LLC Sells 694 Shares of Prologis, Inc. (NYSE:PLD)

Clear Creek Financial Management LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 20.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,709 shares of the real estate investment trust’s stock after selling 694 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Prologis were worth $304,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Optimum Investment Advisors acquired a new stake in Prologis during the 1st quarter worth approximately $26,000. True Wealth Design LLC acquired a new position in shares of Prologis during the fourth quarter worth $27,000. Central Valley Advisors LLC bought a new stake in shares of Prologis in the second quarter worth $29,000. JFS Wealth Advisors LLC increased its holdings in Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares during the period. Finally, Clear Investment Research LLC increased its holdings in Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 158 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 2.3 %

Shares of NYSE PLD traded up $2.88 during midday trading on Friday, hitting $128.86. 2,938,701 shares of the stock traded hands, compared to its average volume of 3,666,829. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The business has a 50 day moving average price of $119.24 and a two-hundred day moving average price of $119.23. The company has a market cap of $119.30 billion, a PE ratio of 37.68, a P/E/G ratio of 3.02 and a beta of 1.06.

Prologis (NYSE:PLD) last released its quarterly earnings data 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). The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.83 EPS. On average, equities analysts predict that Prologis, Inc. will post 5.43 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays upped their price target on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley increased their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Robert W. Baird reduced their price objective on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, Evercore ISI lowered their target price on shares of Prologis from $123.00 to $122.00 and set an “in-line” rating for the company in a research note on Tuesday, August 20th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.75.

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.