Bank of America Corp DE Sells 556,514 Shares of Prologis, Inc. $PLD

Bank of America Corp DE cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,307,187 shares of the real estate investment trust's stock after selling 556,514 shares during the quarter. Bank of America Corp DE owned approximately 1.11% of Prologis worth $1,362,404,000 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. Norges Bank purchased a new stake in Prologis in the 4th quarter worth about $1,589,125,000. Cardano Risk Management B.V. grew its stake in Prologis by 999.3% in the 4th quarter. Cardano Risk Management B.V. now owns 11,228,730 shares of the real estate investment trust's stock valued at $1,433,460,000 after buying an additional 10,207,267 shares in the last quarter. Swedbank AB raised its holdings in Prologis by 36.2% during the 4th quarter. Swedbank AB now owns 7,664,583 shares of the real estate investment trust's stock valued at $978,461,000 after acquiring an additional 2,038,329 shares during the period. Bessemer Group Inc. raised its holdings in Prologis by 8,000.9% during the 4th quarter. Bessemer Group Inc. now owns 1,595,963 shares of the real estate investment trust's stock valued at $203,741,000 after acquiring an additional 1,576,262 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Prologis by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 123,323,290 shares of the real estate investment trust's stock valued at $15,743,451,000 after acquiring an additional 1,258,407 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In related news, CFO Timothy D. Arndt sold 3,597 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.52% of the company's stock.

Prologis Stock Up 0.4%

Shares of NYSE PLD opened at $146.09 on Friday. Prologis, Inc. has a 12 month low of $103.41 and a 12 month high of $153.35. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $136.20 billion, a price-to-earnings ratio of 32.54 and a beta of 1.32. The business has a 50-day moving average of $143.81 and a 200-day moving average of $139.13.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.38. The company had revenue of $2.43 billion for 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%. Prologis's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 earnings per share. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Sell-side analysts expect that Prologis, Inc. will post 6.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLD has been the topic of a number of analyst reports. Citigroup boosted their price objective on Prologis from $145.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Robert W. Baird raised their target price on Prologis from $133.00 to $136.00 and gave the stock a "neutral" rating in a research note on Friday, April 17th. Jefferies Financial Group decreased their price target on Prologis from $157.00 to $155.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. The Goldman Sachs Group reissued a "neutral" rating and issued a $157.00 price target on shares of Prologis in a report on Friday, April 17th. Finally, Scotiabank increased their price target on shares of Prologis from $146.00 to $150.00 and gave the stock a "sector perform" rating in a report on Thursday, July 23rd. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and an average price target of $153.81.

About Prologis

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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