Daiichi Life Insurance Co. Ltd. acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 56,551 shares of the real estate investment trust's stock, valued at approximately $7,661,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. High Point Wealth Management LLC acquired a new position in Prologis during the fourth quarter worth about $26,000. Ares Financial Consulting LLC acquired a new stake in shares of Prologis during the 4th quarter valued at approximately $26,000. Clearstead Trust LLC purchased a new stake in shares of Prologis during the 2nd quarter worth approximately $28,000. SouthState Bank Corp boosted its stake in shares of Prologis by 73.1% during the 4th quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 95 shares in the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Prologis in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 93.50% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Raymond James Financial assumed coverage on Prologis in a research note on Thursday, June 18th. They issued a "market perform" rating for the company. Morgan Stanley raised their price target on Prologis from $135.00 to $151.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 26th. Weiss Ratings upgraded shares of Prologis from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 12th. BTIG Research raised their target price on shares of Prologis from $160.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Finally, Wall Street Zen raised shares of Prologis from a "sell" rating to a "hold" rating in a report on Saturday, July 18th. Sixteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.57.
Read Our Latest Research Report on Prologis
Insiders Place Their Bets
In other Prologis 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 transaction of $539,550.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.52% of the company's stock.
Prologis Trading Up 0.8%
Prologis stock opened at $141.77 on Friday. The stock has a 50-day moving average price of $142.53 and a 200 day moving average price of $140.29. Prologis, Inc. has a 52 week low of $109.14 and a 52 week high of $153.35. The stock has a market cap of $132.28 billion, a PE ratio of 31.57 and a beta of 1.31. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.63.
Prologis (NYSE:PLD - Get Free Report) last released its quarterly 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. 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%. 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 company earned $1.46 EPS. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Equities research analysts predict that Prologis, Inc. will post 6.27 earnings per share for the current fiscal year.
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.
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