Elevation Point Wealth Partners LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 25,769 shares of the real estate investment trust's stock, valued at approximately $3,491,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sandy Cove Advisors LLC raised its holdings in Prologis by 1.9% in the second quarter. Sandy Cove Advisors LLC now owns 3,854 shares of the real estate investment trust's stock worth $522,000 after buying an additional 73 shares during the last quarter. CoreCap Advisors LLC grew its holdings in shares of Prologis by 5.0% during the second quarter. CoreCap Advisors LLC now owns 1,538 shares of the real estate investment trust's stock valued at $208,000 after buying an additional 73 shares during the last quarter. Boltwood Capital Management grew its holdings in shares of Prologis by 1.5% during the second quarter. Boltwood Capital Management now owns 5,170 shares of the real estate investment trust's stock valued at $700,000 after buying an additional 75 shares during the last quarter. High Note Wealth LLC increased its position in shares of Prologis by 43.9% during the fourth quarter. High Note Wealth LLC now owns 249 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 76 shares in the last quarter. Finally, Hibernia Wealth Partners LLC raised its holdings in Prologis by 2.5% in the 1st quarter. Hibernia Wealth Partners LLC now owns 3,070 shares of the real estate investment trust's stock worth $406,000 after acquiring an additional 76 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
PLD has been the topic of several analyst reports. Robert W. Baird set a $140.00 price objective on Prologis in a research report on Friday, July 31st. BMO Capital Markets reduced their target price on Prologis from $162.00 to $158.00 and set an "outperform" rating for the company in a report on Monday, June 29th. BTIG Research boosted their price target on Prologis from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Wells Fargo & Company upped their price target on Prologis from $155.00 to $167.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Finally, Truist Financial increased their price objective on Prologis from $154.00 to $162.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Sixteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $154.57.
Get Our Latest Stock Analysis on PLD
Prologis Stock Up 0.8%
PLD opened at $141.77 on Friday. The stock has a market capitalization of $132.28 billion, a price-to-earnings ratio of 31.57 and a beta of 1.31. The firm has a 50 day moving average price of $142.53 and a 200-day moving average price of $140.29. Prologis, Inc. has a twelve month low of $109.14 and a twelve month high of $153.35. 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 (NYSE:PLD - Get Free Report) last issued its earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.38. Prologis had a net margin of 45.79% and a return on equity of 7.29%. The company had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter last year, the company posted $1.46 earnings per share. The firm's quarterly revenue was up 11.0% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Equities research analysts forecast that Prologis, Inc. will post 6.27 earnings per share for the current year.
Insider Buying and Selling at Prologis
In related news, CFO Timothy D. Arndt sold 3,597 shares of Prologis stock in a transaction on Monday, June 15th. The stock was sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is owned by insiders.
Prologis Company Profile
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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.
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