Trivium Point Advisory LLC purchased a new position in Prologis, Inc. (NYSE:PLD – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 11,239 shares of the real estate investment trust’s stock, valued at approximately $1,523,000.
Several other institutional investors also recently modified their holdings of the stock. Schnieders Capital Management LLC. raised its position in shares of Prologis by 45.4% during the second quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust’s stock worth $1,128,000 after purchasing an additional 3,350 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Prologis by 4.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 335,187 shares of the real estate investment trust’s stock valued at $42,790,000 after purchasing an additional 15,335 shares during the period. Meritage Portfolio Management increased its stake in Prologis by 45.7% in the 4th quarter. Meritage Portfolio Management now owns 27,889 shares of the real estate investment trust’s stock worth $3,560,000 after purchasing an additional 8,747 shares in the last quarter. Merrithew & Thorsten Inc purchased a new position in Prologis in the 4th quarter worth about $5,641,000. Finally, Merit Financial Group LLC raised its holdings in Prologis by 38.2% during the 4th quarter. Merit Financial Group LLC now owns 29,835 shares of the real estate investment trust’s stock worth $3,809,000 after buying an additional 8,240 shares during the period. Institutional investors own 93.50% of the company’s stock.
Prologis Trading Up 0.1%
NYSE:PLD opened at $141.10 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $131.66 billion, a P/E ratio of 31.43 and a beta of 1.31. Prologis, Inc. has a 52 week low of $105.42 and a 52 week high of $153.35. The stock’s 50 day moving average price is $143.09 and its 200 day moving average price is $139.96.
Analysts Set New Price Targets
PLD has been the subject of a number of analyst reports. Scotiabank upped their price objective on shares of Prologis from $146.00 to $150.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. Mizuho boosted their price target on shares of Prologis from $150.00 to $159.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Barclays upped their price target on shares of Prologis from $139.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Wells Fargo & Company boosted their target price on shares of Prologis from $155.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Sixteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $154.57.
Check Out Our Latest Stock Analysis on Prologis
Insider Activity at Prologis
In other news, CFO Timothy D. Arndt sold 3,597 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $150.00, for a total value of $539,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by company insiders.
About Prologis
Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.
With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.
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