Figure 8 Investment Strategies LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,368 shares of the real estate investment trust’s stock, valued at approximately $1,811,000. Prologis accounts for 1.5% of Figure 8 Investment Strategies LLC’s holdings, making the stock its 27th largest position.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Schnieders Capital Management LLC. grew its stake 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 acquiring an additional 3,350 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised 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 last quarter. Meritage Portfolio Management boosted 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 acquired a new stake in Prologis in the 4th quarter worth approximately $5,641,000. Finally, The Manufacturers Life Insurance Company grew its position in Prologis by 4.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 772,814 shares of the real estate investment trust’s stock worth $102,151,000 after purchasing an additional 33,172 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.
Prologis Price Performance
Shares of NYSE PLD opened at $140.30 on Wednesday. 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 firm has a fifty day moving average of $142.90 and a 200 day moving average of $140.13. The firm has a market cap of $130.91 billion, a PE ratio of 31.25 and a beta of 1.31. Prologis, Inc. has a one year low of $107.03 and a one year high of $153.35.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on PLD shares. Barclays upped their target price on Prologis from $139.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Royal Bank Of Canada upgraded Prologis from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $148.00 to $160.00 in a research note on Tuesday, August 4th. Morgan Stanley boosted their price target on Prologis from $135.00 to $151.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Mizuho increased their price objective on Prologis from $150.00 to $159.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Finally, BMO Capital Markets reduced their price objective on Prologis from $162.00 to $158.00 and set an “outperform” rating for the company in a research note on Monday, June 29th. Sixteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $154.57.
View Our Latest Report on Prologis
Insider Activity
In related news, CFO Timothy D. Arndt sold 3,597 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by company insiders.
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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