Wellington Management Group LLP decreased its holdings in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,301,623 shares of the real estate investment trust’s stock after selling 444,398 shares during the quarter. Wellington Management Group LLP’s holdings in Prologis were worth $718,211,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Solstein Capital LLC bought a new position in Prologis in the 2nd quarter valued at about $25,000. Manning & Napier Advisors LLC acquired a new stake in Prologis in the 2nd quarter worth about $25,000. Clearstead Trust LLC acquired a new stake in Prologis in the 2nd quarter worth about $28,000. SouthState Bank Corp boosted its holdings in Prologis by 73.1% in the 4th quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 95 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Prologis during the 4th quarter worth approximately $29,000. 93.50% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. Royal Bank Of Canada raised shares of Prologis from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $148.00 to $160.00 in a report on Tuesday, August 4th. Scotiabank upped their price objective on shares of Prologis from $146.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 23rd. Weiss Ratings downgraded shares of Prologis from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. BTIG Research raised their target price on shares of Prologis from $160.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, BMO Capital Markets cut their price target on shares of Prologis from $162.00 to $158.00 and set an “outperform” rating for the company in a report on Monday, June 29th. Sixteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $154.57.
Prologis Stock Performance
Shares of PLD stock opened at $140.80 on Friday. The business’s 50-day moving average price is $142.44 and its 200-day moving average price is $140.59. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.63. Prologis, Inc. has a 12 month low of $110.51 and a 12 month high of $153.35. The firm has a market capitalization of $131.38 billion, a price-to-earnings ratio of 31.36 and a beta of 1.31.
Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.38. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Prologis had a net margin of 45.79% and a return on equity of 7.29%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Equities research analysts forecast that Prologis, Inc. will post 6.27 EPS for the current year.
Insiders Place Their Bets
In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of the firm’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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