Bank of Nova Scotia Acquires Shares of 147,333 Prologis, Inc. $PLD

Bank of Nova Scotia bought a new position in Prologis, Inc. (NYSE:PLD - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 147,333 shares of the real estate investment trust's stock, valued at approximately $20,004,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted 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 worth $15,743,451,000 after buying an additional 1,258,407 shares during the last quarter. BlackRock Inc. bought a new position in Prologis during the second quarter worth $14,006,587,000. Geode Capital Management LLC boosted its holdings in Prologis by 1.5% in the fourth 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 purchasing an additional 339,906 shares during the period. Capital Research Global Investors increased its stake in 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 valued at $2,050,397,000 after purchasing an additional 678,363 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Prologis during the fourth quarter worth $1,589,125,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PLD has been the topic of a number of recent research reports. Mizuho raised their price target on shares of Prologis from $150.00 to $159.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Raymond James Financial assumed coverage on shares of Prologis in a research report on Thursday, June 18th. They set a "market perform" rating for the company. Robert W. Baird set a $140.00 price objective on shares of Prologis in a research note on Friday, July 31st. Wells Fargo & Company raised their target price on shares of Prologis from $155.00 to $167.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada upgraded Prologis from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $148.00 to $160.00 in a research note on Tuesday, August 4th. Sixteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $154.57.

Prologis Stock Down 0.0%

NYSE PLD opened at $141.77 on Monday. Prologis, Inc. has a 12 month low of $109.14 and a 12 month high of $153.35. The company has a market capitalization of $132.28 billion, a P/E ratio of 31.57 and a beta of 1.31. The company's 50 day simple moving average is $142.53 and its 200 day simple moving average is $140.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.70 and a quick ratio of 0.70.

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 for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Equities research 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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