Meeder Advisory Services Inc. bought a new position in shares of Prologis, Inc. (NYSE:PLD – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,944 shares of the real estate investment trust’s stock, valued at approximately $2,160,000.
A number of other large investors also recently added to or reduced their stakes in PLD. High Point Wealth Management LLC bought a new position in Prologis in the 4th quarter worth approximately $26,000. Ares Financial Consulting LLC bought a new stake in shares of Prologis during the fourth quarter valued at approximately $26,000. Clearstead Trust LLC bought a new stake in shares of Prologis during the second quarter valued at approximately $28,000. SouthState Bank Corp lifted its holdings in shares of Prologis by 73.1% in the fourth quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 95 shares in the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Prologis in the fourth quarter worth $29,000. 93.50% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CFO Timothy D. Arndt sold 3,597 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.52% of the company’s stock.
Prologis Trading Down 0.2%
Prologis (NYSE:PLD – Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.38. Prologis had a net margin of 45.79% and a return on equity of 7.29%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Prologis’s revenue was up 11.0% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Sell-side analysts anticipate that Prologis, Inc. will post 6.28 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms recently weighed in on PLD. Weiss Ratings raised shares of Prologis from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Wells Fargo & Company boosted their price target on shares of Prologis from $155.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Robert W. Baird set a $140.00 price objective on shares of Prologis in a report on Friday, July 31st. BTIG Research raised their price objective on Prologis from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, Raymond James Financial started coverage on Prologis in a report on Thursday, June 18th. They issued a “market perform” rating on the stock. Sixteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $154.57.
Prologis Company 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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