L2 Asset Management LLC bought a new stake in Prologis, Inc. (NYSE:PLD – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,468 shares of the real estate investment trust’s stock, valued at approximately $741,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Prologis during the 2nd quarter valued at about $14,006,587,000. Geode Capital Management LLC grew its position in shares of Prologis by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 23,012,940 shares of the real estate investment trust’s stock worth $2,925,791,000 after buying an additional 339,906 shares during the period. Capital Research Global Investors raised its stake in shares of Prologis by 4.4% during the fourth quarter. Capital Research Global Investors now owns 16,061,390 shares of the real estate investment trust’s stock worth $2,050,397,000 after buying an additional 678,363 shares during the last quarter. Norges Bank bought a new stake in shares of Prologis during the fourth quarter worth approximately $1,589,125,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Prologis by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,639,644 shares of the real estate investment trust’s stock valued at $1,485,917,000 after buying an additional 516,765 shares during the period. Institutional investors own 93.50% of the company’s stock.
Analysts Set New Price Targets
PLD has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of Prologis from $135.00 to $151.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Scotiabank increased 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. Wall Street Zen upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Robert W. Baird set a $140.00 price objective on Prologis in a research note on Friday, July 31st. Finally, Mizuho upped 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. Sixteen equities 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $154.57.
Insider Buying and Selling at Prologis
In other news, CFO Timothy D. Arndt sold 3,597 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was 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 accessible through this link. 0.52% of the stock is owned by company insiders.
Prologis Trading Up 1.1%
NYSE:PLD opened at $143.37 on Tuesday. Prologis, Inc. has a fifty-two week low of $110.51 and a fifty-two week high of $153.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50-day simple moving average is $142.43 and its 200-day simple moving average is $140.45. The stock has a market capitalization of $133.77 billion, a PE ratio of 31.93 and a beta of 1.31.
Prologis (NYSE:PLD – Get Free Report) last released its earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 EPS for the quarter, beating the consensus estimate of $0.75 by $0.38. Prologis had a return on equity of 7.29% and a net margin of 45.79%.The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Sell-side analysts expect that Prologis, Inc. will post 6.27 earnings per share for the current fiscal year.
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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