Beacon Pointe Advisors LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 22,427 shares of the real estate investment trust's stock, valued at approximately $3,038,000.
A number of other large investors have also added to or reduced their stakes in PLD. BlackRock Inc. purchased a new position in shares of Prologis in the second quarter valued at $14,006,587,000. Geode Capital Management LLC grew its stake in shares of Prologis by 1.5% in 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 in the last quarter. Capital Research Global Investors increased its holdings in shares of Prologis by 4.4% in the 4th 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 in the 4th quarter worth about $1,589,125,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Prologis by 4.6% during the 4th 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 in the last quarter. Institutional investors own 93.50% of the company's stock.
Prologis Stock Performance
Shares of PLD stock opened at $140.80 on Friday. The firm has a market cap of $131.38 billion, a price-to-earnings ratio of 31.36 and a beta of 1.31. The company's 50 day moving average is $142.44 and its 200 day moving average is $140.59. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.63. Prologis, Inc. has a 52-week low of $110.51 and a 52-week high of $153.35.
Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.38. Prologis had a return on equity of 7.29% and a net margin of 45.79%.The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. Prologis's revenue was up 11.0% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 6.27 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
PLD has been the subject of several recent research reports. Mizuho lifted their price target on Prologis from $150.00 to $159.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Morgan Stanley lifted their price objective on shares of Prologis from $135.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 26th. Weiss Ratings cut shares of Prologis from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday. Wells Fargo & Company upped their target price on Prologis from $155.00 to $167.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Finally, Truist Financial increased their price target on Prologis from $154.00 to $162.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.57.
Check Out Our Latest Stock Report on Prologis
Insider Activity at Prologis
In other news, CFO Timothy D. Arndt sold 3,597 shares of Prologis stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company's stock.
About Prologis
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).
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