Global Retirement Partners LLC Purchases Shares of 32,142 Prologis, Inc. $PLD

Key Points

• Global Retirement Partners purchased 32,142 Prologis shares worth approximately $4.35 million, while institutional investors collectively own 93.5% of the REIT.
• Analysts maintain a favorable outlook, with Prologis receiving a “Moderate Buy” consensus rating and an average price target of $154.57; several firms recently raised their targets.
• Prologis reported quarterly EPS of $1.13, exceeding estimates of $0.75, while revenue rose 11% year over year to $2.43 billion. Shares opened at $141.10, near their 52-week high of $153.35.

Global Retirement Partners LLC purchased a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,142 shares of the real estate investment trust's stock, valued at approximately $4,354,000.

A number of other hedge funds have also modified their holdings of the business. Schnieders Capital Management LLC. grew its stake in Prologis by 45.4% in the 2nd quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust's stock worth $1,128,000 after acquiring an additional 3,350 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Prologis by 4.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 335,187 shares of the real estate investment trust's stock worth $42,790,000 after purchasing an additional 15,335 shares during the period. Meritage Portfolio Management lifted its stake in shares of Prologis by 45.7% during the 4th quarter. Meritage Portfolio Management now owns 27,889 shares of the real estate investment trust's stock worth $3,560,000 after purchasing an additional 8,747 shares during the period. Merrithew & Thorsten Inc acquired a new stake in shares of Prologis during the fourth quarter worth $5,641,000. Finally, Merit Financial Group LLC boosted its holdings in shares of Prologis by 38.2% during the fourth quarter. Merit Financial Group LLC now owns 29,835 shares of the real estate investment trust's stock worth $3,809,000 after purchasing an additional 8,240 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PLD shares. Weiss Ratings upgraded Prologis from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday. Truist Financial lifted their price target on Prologis from $154.00 to $162.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. BTIG Research upped their price objective on shares of Prologis from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Raymond James Financial assumed coverage on shares of Prologis in a research note on Thursday, June 18th. They set a "market perform" rating for the company. Finally, Barclays increased their price objective on shares of Prologis from $139.00 to $156.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Sixteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Prologis presently has an average rating of "Moderate Buy" and an average target price of $154.57.

Prologis Trading Up 0.1%

Shares of PLD opened at $141.10 on Monday. Prologis, Inc. has a twelve month low of $105.42 and a twelve month high of $153.35. The firm has a market capitalization of $131.66 billion, a P/E ratio of 31.43 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. The stock's fifty day simple moving average is $143.09 and its 200 day simple moving average is $139.96.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.38. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.16 billion. Prologis had a return on equity of 7.29% and a net margin of 45.79%.The firm's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. On average, equities research analysts forecast that Prologis, Inc. will post 6.28 earnings per share for the current year.

Insider Buying and Selling at Prologis

In other news, CFO Timothy D. Arndt sold 3,597 shares of the business's stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source