Sigma Planning Corp reduced its stake in Prologis, Inc. (NYSE:PLD – Free Report) by 44.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,549 shares of the real estate investment trust’s stock after selling 3,598 shares during the period. Sigma Planning Corp’s holdings in Prologis were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of the stock. Solstein Capital LLC acquired a new stake in shares of Prologis during the second quarter worth $25,000. Manning & Napier Advisors LLC purchased a new position in Prologis during the 2nd quarter worth $25,000. Clearstead Trust LLC acquired a new stake in shares of Prologis in the 2nd quarter worth $28,000. SouthState Bank Corp boosted 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 valued at $29,000 after acquiring an additional 95 shares in the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Prologis in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 93.50% of the company’s stock.
Insider Transactions at Prologis
In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.
Prologis Trading Down 0.3%
Prologis (NYSE:PLD – Get Free Report) last posted 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. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.16 billion. Prologis had a net margin of 45.79% and a return on equity of 7.29%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. On average, research analysts predict that Prologis, Inc. will post 6.27 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Prologis from $139.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Royal Bank Of Canada raised Prologis from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $148.00 to $160.00 in a report on Tuesday, August 4th. Truist Financial boosted their target price on Prologis from $154.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Raymond James Financial assumed coverage on Prologis in a research note on Thursday, June 18th. They set a “market perform” rating for the company. Finally, Scotiabank lifted their price target on Prologis from $146.00 to $150.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. Sixteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.52.
Get Our Latest 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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