Covington Investment Advisors Inc. Buys New Shares in Prologis, Inc. $PLD

Key Points

• Covington Investment Advisors initiated a Prologis position by purchasing 48,783 shares worth approximately $6.6 million in the second quarter. Institutional investors collectively own 93.5% of Prologis stock.
• Prologis reported quarterly EPS of $1.13, beating estimates of $0.75, while revenue rose 11% year over year to $2.43 billion. The company maintained fiscal 2026 EPS guidance of $6.22 to $6.30.
• Analysts remain broadly positive, assigning the stock a consensus “Moderate Buy” rating and an average price target of $154.57 versus its reported trading price of $141.77. Meanwhile, CFO Timothy D. Arndt sold 3,597 shares at an average price of $150.

Covington Investment Advisors Inc. bought a new position in Prologis, Inc. (NYSE:PLD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 48,783 shares of the real estate investment trust's stock, valued at approximately $6,609,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. Schnieders Capital Management LLC. lifted its holdings in shares of Prologis by 45.4% during the second quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust's stock worth $1,128,000 after purchasing an additional 3,350 shares during the period. Walleye Capital LLC purchased a new stake in Prologis in the second quarter valued at approximately $422,000. NewEdge Advisors LLC increased its holdings in Prologis by 6.8% in the 2nd quarter. NewEdge Advisors LLC now owns 63,829 shares of the real estate investment trust's stock worth $6,710,000 after buying an additional 4,074 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in Prologis by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 433,312 shares of the real estate investment trust's stock worth $45,550,000 after buying an additional 10,266 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Trading Down 0.0%

PLD stock opened at $141.77 on Monday. Prologis, Inc. has a 52-week low of $109.14 and a 52-week 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. The firm has a market cap 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.

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 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 analyst estimates of $2.16 billion. Prologis had a return on equity of 7.29% and a net margin of 45.79%.Prologis's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. As a group, equities analysts forecast that Prologis, Inc. will post 6.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Prologis from $135.00 to $151.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 26th. Robert W. Baird set a $140.00 target price on shares of Prologis in a report on Friday, July 31st. Royal Bank Of Canada upgraded shares of Prologis from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $148.00 to $160.00 in a research report on Tuesday, August 4th. Mizuho lifted their price objective on Prologis from $150.00 to $159.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. Finally, Wall Street Zen raised Prologis from a "sell" rating to a "hold" rating in a report on Saturday, July 18th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Prologis currently has an average rating of "Moderate Buy" and a consensus target price of $154.57.

Insider Buying and Selling at Prologis

In other news, CFO Timothy D. Arndt sold 3,597 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by insiders.

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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