Trust Co. of Vermont bought a new position in shares of Prologis, Inc. (NYSE:PLD – Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 72,793 shares of the real estate investment trust’s stock, valued at approximately $9,861,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principle Wealth Partners LLC bought a new position in Prologis during the second quarter valued at about $656,000. UP Strategic Wealth Investment Advisors LLC purchased a new stake in Prologis during the second quarter worth about $207,000. Focused Wealth Management Inc bought a new stake in Prologis in the second quarter worth about $523,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Prologis in the second quarter worth about $417,585,000. Finally, Beverly Hills Private Wealth LLC purchased a new position in Prologis in the second quarter valued at about $519,000. 93.50% of the stock is owned by hedge funds and other institutional investors.
Prologis Stock Performance
Shares of PLD opened at $140.61 on Tuesday. The stock’s 50-day simple moving average is $143.05 and its 200 day simple moving average is $140.04. The stock has a market capitalization of $131.20 billion, a price-to-earnings ratio of 31.32 and a beta of 1.31. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.70 and a current ratio of 0.70. Prologis, Inc. has a 52-week low of $105.42 and a 52-week high of $153.35.
Insider Activity
In other news, CFO Timothy D. Arndt sold 3,597 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.
Analyst Ratings Changes
PLD has been the subject of a number of research reports. Wall Street Zen raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings raised Prologis from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. BTIG Research raised their target price on Prologis from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. DA Davidson boosted their target price on Prologis from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Raymond James Financial assumed coverage on Prologis in a research report on Thursday, June 18th. They set a “market perform” rating on the stock. Sixteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $154.57.
Read Our Latest Stock Report on Prologis
Prologis Profile
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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