OneAscent Financial Services LLC bought a new position in Prologis, Inc. (NYSE:PLD – Free Report) in the 2nd quarter, Holdings Channel reports. The firm bought 18,087 shares of the real estate investment trust’s stock, valued at approximately $2,450,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Brighton Jones LLC grew its holdings in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after acquiring an additional 15,078 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Prologis by 45.4% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust’s stock valued at $1,128,000 after purchasing an additional 3,350 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Prologis in the 2nd quarter worth approximately $422,000. NewEdge Advisors LLC lifted its position in shares of Prologis by 6.8% in the 2nd quarter. NewEdge Advisors LLC now owns 63,829 shares of the real estate investment trust’s stock worth $6,710,000 after purchasing an additional 4,074 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in shares of Prologis by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 433,312 shares of the real estate investment trust’s stock worth $45,550,000 after purchasing an additional 10,266 shares during the period. Institutional investors own 93.50% of the company’s stock.
Prologis Stock Performance
PLD stock opened at $140.51 on Friday. Prologis, Inc. has a one year low of $107.84 and a one year high of $153.35. The firm has a market cap of $131.11 billion, a price-to-earnings ratio of 31.29 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. The firm has a 50-day simple moving average of $142.66 and a two-hundred day simple moving average of $140.28.
Analyst Ratings Changes
Several brokerages recently issued reports on PLD. Wall Street Zen raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Raymond James Financial initiated coverage on Prologis in a report on Thursday, June 18th. They set a “market perform” rating for the company. BTIG Research increased their target price on Prologis from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Robert W. Baird set a $140.00 price target on Prologis in a report on Friday, July 31st. Finally, Weiss Ratings upgraded Prologis from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Sixteen investment 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.57.
Read Our Latest Stock Analysis on PLD
Insider Transactions at Prologis
In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of Prologis stock in a transaction 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 SEC, which is available through this link. Corporate insiders own 0.52% of the company’s stock.
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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